Business & Brands

Trump Social Media Ban: Twitter, Facebook Lose $51 Billion In Market Cap In Two Days

Trump Social Media Ban: Twitter, Facebook Lose $51 Billion In Market Cap In Two Days

 

 

 

Following Facebook and Twitter banning President Donald Trump from their platforms, the companies saw a combined market value loss of $51.2 billion over two trading sessions.

A significant number of users deleted their accounts in retaliation of the political censorship, resulting in investors dumping their stocks.

According to Business Insider, Facebook plunged by 4% on Monday and 2.2% on Tuesday, resulting in a decrease of $47.6 billion below what it was on Friday.
Facebook traded at $245.64 per share as of 4 p.m. on Thursday.

Twitter plunged to 6.4% and another 2.4% Tuesday, resulting in a drop in market cap by $3.5 billion. Twitter traded at $45.79 per share as of Thursday at 4 p.m., compared to the closing price of $51.48 on Friday.

President Trump has slammed big tech for their censorship calling the ban a ‘catastrophic mistake.’

Trump’s Facebook has now been unbanned, likewise his Instagram account.

 

Angela Davies

Recent Posts

PHOTOS: Davido Receives Luxury Car From Auto Firm For 32nd Birthday

Davido has received a luxury car from an auto firm for his 32nd birthday.  …

15 hours ago

VIDEO: How Primate Ayodele Foretold Simon Ekpa’s Arrest In 2023

Simon Ekpa, a Finnish-Nigerian separatist agitator and self-proclaimed Prime Minister of the Biafra Republic Government…

16 hours ago

Speaker Obasa Clarifies Negative Perceptions As Sanwo-Olu Presents 2025 Budget

Accuses detractors of peddling news of alleged governorship ambition.   Speaker of the Lagos State…

16 hours ago

Simon Ekpa, Four Others Arrested In Finland Over Terrorism Activities

Simon Ekpa and four others have been arrested in Finland over terrorism activities.   Glamtush…

20 hours ago

Davido Celebrates 32nd Birthday With ₦300m Donation To Orphanages

Davido is excited to celebrate his 32nd birthday with a ₦300m donation to orphanages.  …

22 hours ago

America Returnee Found Dead In Ogun Hotel

An American returnee has been found dead in an Ogun hotel.   Glamtush reports that…

22 hours ago