Posted on 01/11/2021 7:20:09 AM PST by SeekAndFind
Twitter’s stock price tumbled early Monday as investors appeared to balk at the social network’s decision to ban President Trump from posting.
Shares in the San Francisco-based company tumbled 7.5 percent to $47.60 as of 8:07 a.m. in the first premarket trading session after it booted Trump from the platform on Friday, saying his account posed a “risk of further incitement of violence” after his supporters stormed the US Capitol on Wednesday.
Twitter’s move against the outgoing president — whose account had more than 88 million followers — was the first permanent suspension for a head of state, and it’s likely to spark furious debate about the role tech companies play in regulating speech.
It may also hurt Twitter’s user base as Trump supporters and right-wing activists pledge to boycott the company’s blockbuster decision.
“Trump has a very high and loyal following and a lot of those eyeballs will go away if Trump is permanently restricted from posting,” Andrea Cicione, head of strategy at TS Lombard, told Reuters.
In a statement explaining its decision, Twitter said there were plans in the works on Twitter and elsewhere for more armed protests, “including a proposed secondary attack on the US Capitol and state capitol buildings on January 17, 2021.”
The use of social media to organize such violent uprisings could lead Twitter and other firms to ramp up their content moderation efforts — which could come with increased costs.
“Incremental moderation may be welcome but it’s not cheap and could benefit Facebook that already [employs] a moderation army [around six times] larger than Twitter’s workforce,” Bernstein analysts wrote in a research note.
(Excerpt) Read more at nypost.com ...
HA HA
Is it just me or does Jack Dorsey go out of his way to look like Rasputin?
Coming soon to the whole market.
Double win. Trump won’t need Twitter in second term. At all.
Gab has gained
160,000 new twitter followers in the last 72 hours
So Twitter is now some kind of new government intelligence agency, with power to deprive people of their constitutional rights?
Right after the market opened it was down 11%.
Since then, it is making a slow but solid recovery.
Down 6% as I write this.
7% is a glitch for these assholes. They don’t care.
~2.7B Facebook users.. if 80M left it’s nothing.
Be nice if RICO was implemented but everything will be swept under the rug for at least the next 2 years.
Never used it, so dudden matter. I am only on facelessbook so I can watch our Church services when we are out. THAT is it!!!
No actual number on switchers. This should just be getting started.
C’mon, everybody out of the pool!!!
Good! It’s a start.
Extraordinary claims require extraordinary evidence. Produce it. Let us judge whether your extreme reaction was warranted (spoiler: it wasn't)
I tried going to GAB.com — EXTREMELY SLOW!
Too many users hungry for alternative news going to their website.
Gab must be scrambling to add servers to accommodate the huge surge in users.
Parler at this time, is unfortunately DOWN. we don’t know when they will be back up again. Cloud Providers - Amazon, Google and Microsoft will not touch their business at all!
That’s the problem when you depend on politicized big businesses for your infrastructure.
Take them all the way down to whatever the delisting point is
Or has he gone Muslim?
Fascist web site, hidden Facist spy lurking behind your logon!!
You silent watcher/partner at left wing controlled web site companies!
https://www.gettyimages.com/photos/grigori-rasputin?phrase=grigori%20rasputin&sort=mostpopular
Rasputin
Good,,,, Racebook next....
You forgot the picture of Nelson Muntz. LOL! It is a beautiful sight to behold. It is called karma.
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