Why One Investor Is Buying ByteDance Stock Despite TikTok Ban Threat

A growing number of ByteDance shareholders have been selling their shares as hopes fade that the TikTok parent will go public anytime soon. But one New York–based venture firm that’s already invested over $100 million in the internet company is still eager to buy.

Mitchell Green, founder of Lead Edge Capital, which has been buying shares of ByteDance from other investors, said the stock is “ridiculously cheap” given the size of the company and its growth rate. That’s even assuming a new U.S. law forces the company to divest TikTok in the U.S. or close it down, he said.