People are paying big bucks for phones with TikTok already downloaded.
Transcript:
Conway Gittens: U.S. stocks limped into the weekend Friday – one-day after the S&P 500 set its first record close of the new year. Sales of previously owned homes hit a 10-month high in December. The media sales price rose to $404,400. All-in-all, 2024 was the worst selling year in roughly 3 decades. But on an optimistic note, Freddie Mac says mortgage rates recently dropped back below 7 percent for the first time in weeks.
On the calendar for next week: the busiest flow of earnings so far, a Fed meeting, and the release of fourth-quarter GDP.
In other business headlines, have you ever wondered how much your old phone is worth? Well, if you still have the TikTok app downloaded on your phone, it could be worth hundreds, even thousands of dollars.
Loads of people who still have TikTok on their phones have offered those devices for sale on eBay. There’s even one posting to sell a “brand new” iPhone 16 Pro Max on eBay for $50,000, or best offer. Some gadget experts doubt whether sellers will get anything near that. Even GameStop has gotten into the mix. According to a post on Instagram, It’s offering to buy so-called TikTok phones, and is providing appraisals.
The kerfuffle revolves around the fate of TikTok. Ahead of a Jan 19th U.S. ultimatum to TikTok parent ByteDance forcing a sale or a ban, some TiKTok users deleted the app. Since then, President Trump temporarily halted the ban, which means TikTok is up and running for the time being. However, the app, which was taken down from the App Store has not returned. Therefore, old users can’t reload the app and new users can’t sign up. No word yet on when TikTok will be available for downloads again. As it stands, the temporary halt of the TikTok ban only lasts through the end of March.
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