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 ...
For every winner, there is a loser.
Beyond funny
They’ve been studying this scenario for months, probably years. This was already factored in. Just like the NFL, the loss of conservative viewership was factored in, and deemed an acceptable loss.
Eeeeeeerrrrrrrr goin boing You’ve got mail!
They are obviously terrified of Trump. Probably afraid of what he knows and can disclose.
Also looking to eliminate the facts/discussion of the election and how it was stolen.
Looks like Gab is down. I tried to access it, and keep getting Error 1016: Origin DNS error
They need to know that the vast majority of people who work and earn money to spend on their advertiser’s products are conservatives. The soy boys earn so little they have to live in their parent’s basement. But I hope they don’t figure it out until they are bankrupt.
FascistBook
What I want to know is: How can I hurt Amazon?
1. Close my account. That's easy enough. I'd lose a couple things I've grown accustomed to. It's worth it.
2. Show other people what they've done to conservatives. (Are those people living under a rock?>
3. Before I leave Amazon, I could give bad recommendations to everything I bought from Amazon. With every comment saying, "Amazon is censoring free speech."
What else?
Amazon Prime isn't gonna get hurt by not getting my $119 annual fee.
I'd like ideas.
I’ve LONG wanted to see Facebook go out of business!!!!
Now I can add Twitter to that hope, even though I have a Twitter account (but NEVER a Facebook account)!!!!
I’ve never joined Fakebook but I personally know two people who have closed their accounts. Sincerely hope many millions more do the same.
This article is totally misleading. It went down about 10 bucks from 267 to 257. This is pretty much normal for most of these big tech stocks. The market was down a little bit today. It may come right back up tomorrow.
“Did not go past this lie from Business Insider: “The stock’s decline comes as Wall Street reconciles with the president’s role in encouraging supporters to storm the Capitol on Wednesday.”
Same here. Didn’t need to read any further. The list keeps growing . . .
Hey, she did have a cute voice; for a while.
...AND IT AIN’T COMING BACK!
Think how innocent we all were back then.
I hope for the ruination of them both. I quit FB on 12/31 and dropped Twitter like a prom dress yesterday.
34b is 34,000 million. Meh, Thats 34,000 millionaires no longer millionaires. Did anybody feel anything? Not me, im still drinking miller beer at 8.99 a 12ver.
Do you really think Zuckerberg cares?
I like that!
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