Phones with TikTok downloaded are getting big bucks

TheStreet’s Conway Mittens brings you the biggest news of the day, including what investors are TikTok is making some phones worth a small fortune

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:03Here's what we're watching on the street today.

00:05U.S. stocks limped into the weekend Friday, one day after the S&P 500 set its first record

00:11close of the new year. Sales of previously owned homes hit a 10-month high in December.

00:16The median sales price rose to $404,400. All in all, 2024 was the worst selling year in

00:24roughly three decades. But on an optimistic note, Freddie Mac says mortgage rates recently

00:30dropped back below 7% for the first time in weeks. On the calendar for next week,

00:35the busiest flow of earnings so far, a Fed meeting and the release of fourth quarter GDP.

00:42In other business headlines, have you ever wondered how much your old phone is worth?

00:46Well, if you still have the TikTok app downloaded on your phone,

00:50it could be worth hundreds, even thousands of dollars. Loads of people who still have TikTok

00:56on their phones have offered those devices for sale on eBay. There's even one posting to sell

01:01a quote, brand new iPhone 16 Pro Max on eBay for $50,000, or best offer. Some gadget experts doubt

01:10whether sellers will get anything near that. Even GameStop has gotten into the mix. According to a

01:16post on Instagram, it's offering to buy so-called TikTok phones and is providing appraisals. The

01:22kerfuffle revolves around the fate of TikTok ahead of a January 19th U.S. ultimatum to TikTok

01:28parents' bike dance forcing a sale or a ban. Some TikTok users deleted the app. Since then,

01:35President Trump temporarily halted the ban, which means TikTok is up and running for the time being.

01:41However, the app, which was taken down from app stores, has not returned. Therefore,

01:47old users can't reload the app and new users can't sign up. No word yet on when TikTok will

01:53be available for downloads again. As it stands, the temporary halt of the TikTok ban only lasts

02:00through the end of March. That'll do it for your daily briefing from the New York Stock Exchange.

02:05I'm Conway Gittins with The Street.

02:11you