ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

TikTok’s time will expire on Jan. 19 if no buyer is found or the Supreme Court rules in the app’s favor. Here’s what to know.

Chinese government officials have reportedly discussed a scenario where ByteDance sells TikTok's United States arm to Elon Musk, should the Supreme Court

Chinese officials are reportedly exploring a backup plan for TikTok after the Supreme Court appeared unlikely to save it from a US ban. With TikTok’s legal options nearly exhausted, multiple news outlets are reporting that China is considering an option it previously said it wouldn’t: letting ByteDance sell the app.

Could Elon Musk save TikTok in the US? China weighs option to sell the controversial TikTok social media app's US operations ahead of looming ban

Reports about Chinese officials eyeing Musk as the buyer of TikTok’s U.S. operations are “not a total shock” given Musk’s relationship with Trump, says Wedbush analyst Dan Ives.

Chinese officials have reportedly discussed selling TikTok's US operations to Elon Musk as the threat of a US ban looms.

ByteDance, TikTok’s parent company, is required to sell the app to a U.S.-based buyer or face a nationwide ban.

The app’s availability in the U.S. has been thrown into jeopardy over data privacy and national security concerns.

Several parties have expressed interest in buying the platform, but ByteDance has repeatedly said it does not plan to sell. Experts have also noted the Chinese government is unlikely to approve a sale that includes TikTok's coveted algorithm.

Tesla's valuation climbed today alongside reports that CEO Elon Musk could be involved in a deal to purchase TikTok from ByteDance -- its Chinese parent company. The electric vehicle (EV) leader's stock also appears to be getting a boost related to the inauguration of President-elect Trump this coming Monday.