Tesla ( TSLA) stock jumped more than 6% Friday amid speculation that CEO Elon Musk could potentially buy TikTok. The social media platform needs to find an American buyer, or it will effectively face a countrywide ban starting next week — and Musk is reportedly the most likely candidate.

Americans are going to lose access to TikTok in less than a week, unless China green-lights a sale to what Congress has deemed a non-adversary of the United States — something China is unlikely to do but might.

The Tesla CEO should be focused on his EV business at a time when the automotive landscape is rapidly evolving. Investors also don’t need another distraction.

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.

Dan Ives, Wedbush Securities global head of tech research, joins CNBC's 'The Exchange' to discuss the looming TikTok ban in the U.S.

If ByteDance decides to sell, TikTok's U.S. operations could be worth as much as $50 billion. The Chinese government has considered a plan in which Elon Musk could acquire TikTok's operations as part of several potential scenarios.