A micro-cap competitor to TikTok has seen its stock price rise by 300%. It will buy SpaceX shares at a bargain price
Triller Group shares soared after a SpaceX shareholder bought them / Photo: Instagram / Triller
Shares of Triller Group, an American micro-cap competitor to the social media platform TikTok, soared nearly 300% on the Nasdaq on June 25. It reached an agreement to acquire the investment firm SAC1, which will allow it to acquire 3.9 million shares of Elon Musk’s SpaceX at a price significantly below their market value.
Details
Triller Group shares rose nearly 300% on the Nasdaq to $3, marking their highest closing price since late 2024. In premarket trading on June 26, the stock surged another 92%.
The rally began after a micro-cap competitor to TikTok announced that its “subsidiary” would acquire SAC1, a Bahamian investment firm that holds 3.9 million shares of Elon Musk’s SpaceX. This is stated in documents that Triller Group filed with the U.S. Securities and Exchange Commission (SEC).
The position was established well before SpaceX’s record-breaking IPO and is being acquired at a significant discount to the current market price, the buyer explains in a press release. At the close of trading on June 25, one share of SpaceX was worth $153.
“SpaceX is one of the most remarkable companies of our generation, and we are securing a significant stake in it at an attractive price, placing it at the very heart of our balance sheet. We believe this fundamentally changes how investors view Triller,” said the company’s CEO, Wing-Fai Ng (his remarks are quoted in the press release). The company will retain a portion of the space company’s securities for its treasury, according to the statement.
The deal has not yet been finalized, but it is scheduled to be completed in the near future, as indicated there.
The company also piqued shareholders' interest with information about its "Project Eight" initiative, under which it plans to pursue a strategic deal, according to Stocktwits. Triller did not provide any details about the initiative.
What Is Known About the Triller Group
Founded in the U.S. in 2015, Triller operates a short-form video platform similar to TikTok, which launched two years later.
“We see [TikTok] as the next step toward Triller,” said Ryan Kavanagh, the company’s co-owner and a Hollywood producer, back in 2020. According to him, the app’s content is “a little more risqué” and aimed at a more mature audience. “We have a big sign hanging on the wall in our office that says, ‘TikTok is for kids,’” he said.
The company currently positions itself as an alternative to the Chinese service. In 2025, amid TikTok’s difficulties in the U.S. market, the platform launched the “SaveMyTikToks.com” campaign, allowing users to back up their videos and transfer them to Triller. This move helped attract content creators to “an American platform free from political and regulatory barriers,” according to the RouteNote website.
In addition, Triller promotes third-party brands’ content using its AI algorithms and owns Verzuz, a service that hosts popular online battles between musicians and organizes celebrity boxing matches.
At the end of 2025, Triller's revenue fell by 21% to $21.6 million, and its net loss decreased more than 18-fold to $174.5 million.
Since the beginning of the year, the company's stock price has soared by 9,431%.
