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 ...
I been asking this for a week: what are the exact words that Trump used to incite a riot. Quote him. So far, nothing.
RE: Do you really think Zuckerberg Cares?
If you’re worth $100 billion and you lose $10 billion today, would you care?
He could lose 99% of his wealth and still be a lot richer than any big Hollywood star.
when he gets sued by stockholders he will care
Bravo
The Hive
Silicon Valley
“He’s F—king Destroyed This Town”: How Mark Zuckerberg Became the Most Reviled Man in Tech
For years, Zuckerberg was perceived in Silicon Valley as a bold and erudite leader who could outmaneuver anyone. Now the tables have turned—but not for the reasons you might think. ... By Nick Bilton, November 6, 2019.
Anything not in the pockets of the Progressive Thugocracy is automatically "conservative."
Or we could just sell any mutual fund or ETF that has a large position in any of these fascist run enterprises. Easy to find, just go to the funds info page, check “composition”. If any of these companies are in the top ten holdings, sell the fund.
I remember when Amazon first appeared as a book dealer; through the years it evolved to what it is now and Bezos has been a genius in building that empire. It is not a 'social media' entity, it provides a service and does a good job of it. In addition, it provides hundreds of thousands of jobs.
imho, Bezos has kept a relatively low profile throughout most of the radical b.s. Yes, he allowed BLM to pump their b.s. and had a banner exclaiming blm but it stayed up about 2 weeks and then it was gone. Why? Because unlike the rest of the morons, he realizes his membership consists of both sides.
And frankly, they've kept my household going through this b.s. plandemic. So I personally don't see the reason to get up in arms about Amazon. FB & Twitter and YT all need to be smashed but until I see blatant, in your face leftist b.s. from them, I'll remain an Amazon customer.
He own the Washington Post.
How’s that working out for you, commies?
Get woke go broke
He’s a businessman. He bought it...I highly doubt that he even involves himself into the content. Most likely a tax ride-off for him because it’s been losing money for years.
That’s real cheap. I can’t get a 12 pack for less than $15.
If you try my Beer Flavor Enhancer, you can convert 5 24packs from cheap tasting beer into expensive tasting beer. Freepmail me if you’re interested.
I developed this when I did my own home beer brewing project.
If I'm wrong, tell me.
But I think I'm right - and thus, "How can I hurt Amazon?"
Amazon owns about 50% of the web hosting capability in the US. They make it really simple to put together a web based app; your devs can focus on the product you’re building, and Amazon Web Services can handle a lot of the logistics for you, like ramping up bandwidth as your user base grows.
They deplatformed Parler just this weekend, without any notice.
Now to tactfully prod my dense neighbors off of Facebook. They’re Republicans, but they’re stubborn slaves of consumerism, too. Little slow, if you know what I mean.
That’s a better idea.
#metoo
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