Tik Tok Stakes:
There seems to be a bid for Tik Tok between two software giants in Microsoft and Oracle. Both of the “old tech” software behemoths are enjoying the euphoria within the software group. The IGV is screaming higher, today courtesy of CRM, where a combination of pure buying and short covering sent the name soaring. The ETF which had a brief battle with the very round 300 number, has now put that conflict in the rear view mirror. Microsoft not the one for buying splurges, with the exception of the LNKD purchase back in 2016, is viewed as the front runner. It is trying to establish a social media presence (Bing has been a failure within), where it has been left behind by GOOGL with YouTube, and FaceBook with WhatsApp and Instagram. Interesting is the bifurcation with TWTR and SNAP this week, as the former is up 4%, and the latter off by 2%. ORCL is acting a bit sleepy, but if the stock can climb above to round 60 number it could be off to the races. Patience is a virtue.