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 ...
That makes me quite happy. H’mmm I wonder if my 401K has any of their shares, that will counter my happiness.
Why any Patriot would still be on either of them is simply pride being put in front of sense.
This is the kind of thing that happens when people with the emotional maturity of third graders go into business.
I hope they go broke but too many sheeple for that to happen
It’s a good start
Question is do they care...?
Sad...sooooo sad..../s
Just the cost of getting rid of Trump and hurting America.
Food and gasoline spiking up in the last couple of days
Anything is possible but I guarantee you they have a company policy supporting their actions.
Let’s see them put out of business. Same with any company the joins the coup against the president and the country.
May Facebook and Twitter go gentle into that good night,
hope they fail
Got rid of my twitter account it was useless anyway
Three is a lot of truth to that. Alot of those companies are overvalued.
That’s a good start. I hope Twitter, Facebook, Instagram, Amazon, Apple and some others I’m not thinking of at the moment fail. I’m looking at getting a Linux phone, so no Apple or Google involvement.
This government is illegitimate, these companies are illegitimate.
The Trump Curse! Reap the Whirlwind, Suckers! ;)
Having a monopoly means never having to act rationally
BEST news I’ve heard all week! If you haven’t gotten off these sites already, get moving. We can also complain to those sites that feature their symbols on line to remove them.
Good deal!
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