Posted on 01/13/2021 3:32:39 PM PST by marcusmaximus
Facebook and Twitter, the two largest social media platforms to permanently ban President Donald Trump for his role in last week's Capitol riots, saw $51.2 billion in combined market value erased over the last two trading sessions.
Companies across sectors have responded to the president's rhetoric in recent days by pausing political donations, making statements decrying his inflammatory remarks, and pulling products with links to right-wing movements. Facebook and Twitter possibly took the biggest retaliatory steps when they indefinitely banned Trump from their platforms on Thursday and Friday, respectively.
Both companies cited the risk of additional violence for their bans, but investors largely balked at the action. Facebook tumbled 4% on Monday and another 2.2% on Tuesday as shareholders dumped the stock, likely fearing the ban could drive users off the platform. By the time markets closed on Tuesday, Facebook's market cap sat $47.6 billion below its Friday level.
Twitter plunged 6.4% to start the week and dipped another 2.4% as the sell-off continued into Tuesday's close. The declines saw Twitter's market cap drop by $3.5 billion.
(Excerpt) Read more at markets.businessinsider.com ...
It’s funny money, anyway!
Excellent news. I hope the trend continues.
Too bad so sad let’s go for 100B
Indeed.
The bleed out has just started. The snowball is at the top of a long hill with lots to run before it hits bottom.
Go Trump!
A good start
Cancelled both. Cancelled Amazon Prime today.
Drudge. Fox News. Facebook. Twitter. GOP fundraising...
Couldn’t happen to a better bunch of tyrants, I say!!
I suspect an enterprising lawyer could make a pretty penny suing these companies for acting contrary to the interest of their shareholders, resulting in massive shareholder losses.
Good.
Maybe Zuckerberg and Dorsey will care when they get down to their last billion or two.
Rock!
Just as soon as they articles come out, the free-fall stops, at least for today.
It’s nickels & dimes to them....
They need to drop $100 billion/day for it to become obvious to them.
Leftists hate money. That’s why they always destroy everything they touch.
Wait till Trump decides what to do and makes his move then the migration will really pick up steam. A 3000 year old proverb is still very relevant today - “Pride goes before destruction.”
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