Posted on 01/11/2021 11:15:13 AM PST by BlackFemaleArmyColonel
It looks as though Big Tech is learning a very staunch financial lesson on your Monday morning. Twitter has now lost over $5 billion in market share since opening bell on Monday, as the tech giant faces major backlash after banning President Trump.
The massive fall is following the platforms banning of President Donald Trump, General Michael Flynn, Lin Wood, Sindey Powell, and a slew of other high profile conservatives the site banned in the last 72 hours.
Banning the leader of the free world is not only a violation of the 1st amendment, but part of yet another coup by big tech corporations and the Democrats to try to illegally remove Trump from office.
The President who had more than 88 million followers gave the platform a massive influx of supporters and revenue from their tweets and content.
Twitter stock has fell by 12% so far and counting, the share-price decline wiped $5 billion from Twitter’s market capitalization.
Will other tech companies realize that banning one of the most popular President’s in history is a bad career move? Or will they continue to try to ban conservatives and end free speech in America?
It’s actually recovered a bit... it had dropped as low as $46 and seems to be going sideways now at $48. I suppose shareholders are taking a bit of a holding pattern as they stop to evaluate just how bad the bleeding will be.
Thanks for #38. My laff-o-the-day
so the Right has all the money. Ads target users money. the money has left the building. I see compounding problems for the twits at twitter.
I can do without Amazon, too.
Cancelled Prime this morning.
How? Couldn’t find any way on the page.
total assets of $10.16bb does not equal market value.
market value is # of outstanding shares of stock X $ price per share.
agreed. that won’t happen as there are a lot of IDIOTS out there..... my in-laws being 2 of them.
Doubleplusgood comment! I would LUUUUV to see a drop of 50% of market valuation, such that banks IMMEDIATELY call ALL loans to Jerk Dorsey that are, most likely, secured with Twitter stock. (Only down 6.4% so far.) I want to see the ‘twit’, Jerk D. out on his azz, on the street! I look forward to a similar happening for Suckerberg and the rest of the techies. Let them experience the effects of the crony capitalism/communism the so enjoy, FROM THE BOTTOM!
The First Amendment has nothing to do with the case. Any more than the Sullivan decision stating that". . . libel can claim no talismanic immunity from constitutional limitations. It must be measured by standards that satisfy the First Amendment”has anything to do with the actual Constitution and Bill of Rights.The Federalists thought the Constitution as drafted preserved our rights - as then understood - without the Bill of Rights. Else what earthly hope could they have had of getting the Constitution ratified by people who were determined to preserve those rights? The Ninth and Tenth Amendments articulate explicitly the way the Federalists always took for granted that the Constitution would be read.
Although the first eight amendments obviously have the force of law, to the Federalists they were old news, not in any way ground-breaking. And since rights of the states and of the people obviously are a zero-sum game - since the government’s right to restrict something limits the individual’s right to do that thing (and vice versa) - nothing can be inferred by what the First Amendment does not say. 1A says exactly bupkis about libel law and therefore it does not modify libel law. All protestations of the Warren Court in its unanimous 1964 Sullivan decision to the contrary notwithstanding.
Mr. Trump’s recourse is to sue the socks off of the cryptoDemocrat media. And the Democrat Party’s recourse is to pack SCOTUS to prevent it from ruling honestly.
PATRIOT PING
Finally some good news. It’s been a while.
Even if Twitter was on the brink, the Rats will label it Too Big To Fail and bail them out.
Twitter closed its first day of trading at $44.90 a share on November 7, 2013. On January 11, 2021, Twitter is trading around $48.00 per share. Twitter first reported a profitable year since its IPO on February 7, 2019. On February 8, 2019, Twitter closed at $30 per share. Twitter can still go down but not below $30.01 per share.
There will eventually a government-run Twitter that everyone will be required to join.
>PING<
Peanuts. They built and operate their platform for little cost. A billion here and a billion here means little to them
A little justice in this life is long overdue.
Just dropped my Fakebook account.
What did they expect, they snubbed 80 million + people
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