Twitter’s Market Value Plummets Billions After They Permanently Suspended Donald Trump
By Movieguide® Staff
After the chaos at Capitol Hill, Twitter made the radical decision to suspend President Donald Trump’s account and claimed that Trump had incited violence through their platform. Aside from acting as a clear indicator of big tech’s overreach, the company’s stock fell due to the ban.
According to Markets Insider, the Twitter stock fell as much as 12% just days after the social-media company permanently removed President Trump’s account. Moreover, Twitter’s market value went down $5 billion.
Twitter higher-ups suspended Trump’s account—which had gained almost 88 million followers—due to their unsubstantiated claim that the President incited violence and spread lies about the election.
“After close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to the risk of further incitement of violence,” Twitter said.
Twitter’s decision came immediately after Facebook CEO Mark Zuckerberg banned the President for the remainder of his time in office due to similar offenses.
Facebook CEO Mark Zuckerburg said Trump’s ban on Facebook and Instagram would last until the incumbent left office.
“The shocking events of the last 24 hours clearly demonstrate that President Donald Trump intends to use his remaining time in office to undermine the peaceful and lawful transition of power to his elected successor, Joe Biden,” Zuckerberg wrote. “His decision to use his platform to condone rather than condemn the actions of his supporters at the Capitol building has rightly disturbed people in the U.S. and around the world. We removed these statements yesterday because we judged that their effect — and likely their intent — would be to provoke further violence.”
While big tech seems invincible and unrelenting in their free speech attacks as of late, Twitter’s stock falling indicates that people can still impact how big tech run their companies.