Posted on 01/11/2021 3:20:20 PM PST by SeekAndFind
Facebook sank as much as 4.5% on Monday as investors continued to balk at the platform's ban of President Donald Trump.
The slide saw $33.6 billion erased from Facebook's market cap at intraday lows. Shares have since pared some losses and now trade about 2.6% lower.
The stock's decline comes as Wall Street reconciles with the president's role in encouraging supporters to storm the Capitol on Wednesday. Facebook CEO Mark Zuckerberg announced on Thursday the company would ban Trump "indefinitely," adding the risks of allowing him to remain on the platform "are simply too great."
Twitter, which permanently banned Trump on Friday, also underperformed the broader market slump on Monday. The downturns saw the communications-services stocks drop more than any other S&P 500 sector.
While Facebook is far from the only platform to ban Trump, it is among the largest to do so. Investors likely fear that the move will lead pro-Trump users to boycott the website and congregate elsewhere. Right-wing social-media platform Parler was poised to take in such users until Amazon removed the website from its hosting service.
Additionally, CNN's Kevin Liptak reported on Monday that the president might retaliate against big tech companies in response to the bans. He signaled he may lash out through executive actions against the companies but it's unclear what those policies would look like, sources familiar with the matter told CNN.
(Excerpt) Read more at markets.businessinsider.com ...
ABANDON FECEBOOK!
GOOD.
Don’t use these tech media leftist biased democrat outlets.
Let’s, drive down their viewership to zero.
Then we can say :
WE,DID IT !!!
A lot of people have made a lot of money in Twitter.
5 year chart of Twitter:
https://www.cnbc.com/quotes/?symbol=TWTR&qsearchterm=tw
<sarc></sarc>
It needs to last longer and push deeper.
Never had a fb account...Twitter or Instagram either. Suspected all along they were all too intrusive into personal privacy.
With conservatives sites being locked out it’ll go to that.
Yeah, me neither.
Back when it was new I remember Hugh Hewitt encouraging everyone to sign up, I told him I’m not a twit.
28k and 56k and it was either aol or earthlink for dialup ISP providers.
Not enough loss. Boycotting these corrupt organizations are the olny way to put them in their place.
Think fas....
Never mind....
What are they going to do if Biden sneaks in? Who will “lash out”?
Twitter went public at $40 in 2013. Today it is a few bucks higher at $48.
Went nowhere during one of the biggest bull market runs in history.
Dorsey should be sued for incompetence.
Xxxxxxxxxxxxxxxxxxxxxxxxx
Twitter was abt $18.55 on 11/11/16
yup- lets hope verizon, at&t, citibank, etc are next...
Its a good start and it aint over
Good! Screw Fake book.
I wonder if the “insiders” are being allowed to short the stock intentionally to make a little walking around money.
Fecesbook
These companies are willing to take what they believe to be short term loses for the long term gain of being the official party mouthpieces.
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