00:00Kaby Lame's nearly $1 billion deal is suddenly looking shaky.
00:05In January, the world's most-followed TikToker said he struck a $975 million deal to take his business public.
00:13But business insiders Lucia Moses and Dan Waitley report that Lame has gone quiet.
00:19The plan was to merge with a company called Rich Sparkle, allowing everyday investors to buy a stake in Lame's
00:26brand.
00:27Traders rushed in and the stock surged as people bet big on the TikToker's star power.
00:33But that excitement didn't last.
00:35The stock has since crashed more than 90%, and key details about the deal are murky.
00:41There's no confirmation it actually closed, and filings suggest it might not have met the required conditions.
00:47Major brokerages like E-Trade, Fidelity, and Charles Schwab have restricted or blocked trading of the stock.
00:53And interactive brokers labeled it non-tradable altogether.
00:58Meanwhile, Lame has removed the stock ticker from his social profiles, and hasn't publicly addressed the deal in months.
01:04As the share price drops, so does the value of Lame's potential stake.
01:09What once looked like a massive payday is now a big question mark.
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