Twitter, Facebook Lose $51 Billion in Value After Booting Trump

[yota691]

 

Twitter, Facebook Lose $51 Billion in Value After Booting Trump

(Pavlo Gonchar/AP)

By Newsmax Wires    |   Wednesday, 13 January 2021 02:51 PM

 

 

 

After banning President Donald Trump from their social media platforms, Facebook and Twitter have seen their combined market value plummet by $51.2 billion over the last two trading sessions. The news was first reported by Business Insider.

Following the Capitol upheaval last week, Facebook and Twitter indefinitely banned Trump’s accounts, claiming there was risk of additional violence. Their decision prompted a major tech sell-off.

Twitter’s stock dropped 6.4% at the beginning of the week and plunged another 2.4% as of Tuesday’s close. The dip resulted in Twitter’s market cap falling by $3.5 billion. Facebook stock was also dumped by investors in the wake of its decision to boot Trump. The company saw a decline of 4% on Monday and another 2.2% on Tuesday, leaving its market cap at $47.6 billion below its Friday level.

 

Clearly both platforms underestimated the president’s popularity, and while Twitter’s stock was trying to rally on Wednesday morning it was dropping off in the afternoon session. Facebook did not get any lift and hovered around its previous closing level. As of Wednesday afternoon, Facebook traded at $251.34 per share, while Twitter traded at $47.92 per share.

[yota691]

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[TinBadge]

There is a movement today from 7am to 7pm to stay off fb. If millions do that it will hit their ad revenue. 

[DinarDavo]

25 minutes ago, TinBadge said:

There is a movement today from 7am to 7pm to stay off fb. If millions do that it will hit their ad revenue. 

 

TB.....some are saying the FB "break" may be a ploy to suppress what is coming.....check out Markinsa's post about the declass release with link to entire download....it's major!

[DinarDavo]

28 minutes ago, TinBadge said:

There is a movement today from 7am to 7pm to stay off fb. If millions do that it will hit their ad revenue. 

 

I posted the link to declass download and was immediately shadow banned on FaceBook.  You know, community standards and all....LOL

[TinBadge]

I was just flipping through some of the D class stuff!!!

[dacklen]

Permanently deleted FB account in October and canceled Amazon Prime membership after they screwed with Parler. No regrets. I check all items to see where they’re made so my money is not supporting China. Buy local even if you have to pay a little more. 
#MadeinUSA 🇺🇸🇺🇸

[caddieman]

FB back up 3% today as I type. Stocks go up stocks go down. Just a blip on the radar!

[coorslite21]

Half the country will be exiting these platforms....where will they end up????

Perhaps some great investment opportunities ahead.... 

[coorslite21]

27 minutes ago, caddieman said:

FB back up 3% today as I type. Stocks go up stocks go down. Just a blip on the radar!

Yep....just a $51 billion dollar blip.....nothing to it...  

[caddieman]

7 hours ago, coorslite21 said:

Yep....just a $51 billion dollar blip.....nothing to it...  

51 billion is just a blip to FB. For example it went back up 12 billion just today.