Like & Share

Tuesday, January 12, 2021

Twitter took a beating in the stock market yesterday

 I don't really follow the stock market that closely, however, I know that sometimes stocks come back. The news of President Donald Trump's personal twitter account being permanently suspended would certainly be how Twitter stocks begin to take a hit according to Business Insider:

Twitter stock fell as much as 12% on Monday after the social-media company permanently suspended President Donald Trump's account on Friday evening. The share-price decline wiped $5 billion from Twitter's market capitalization.
...
The ban followed Facebook's suspension of Trump for at least the rest of his presidency. CEO Mark Zuckerberg defended the decision in a Facebook post on Thursday, arguing that Trump appeared intent on using his account to undermine a peaceful transition of power and risked sparking more violence.

Twitter stock likely fell because investors are worried the Trump ban will erode interest in the platform and lead to boycotts among those who see the decision as politically motivated and a way to silence a major conservative voice.

I think loss of interest in the service is a pretty good concern and some prominent right wingers such as Rush Limbaugh and Greg Gutfeld and others who have either disabled their own accounts or just aren't using their twitter anymore is part of the boycott. And unfortunately there aren't many alternatives...

No comments:

Post a Comment

Comments are now moderated because one random commenter chose to get comment happy. What doesn't get published is up to my discretion. Of course moderating policy is subject to change. Thanks!