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.
VeryDarkMan has regained his freedom from EFCC custody. Glamtush reports that social media…
Nasty Blaq has clarified that he and Nikos are just very good friends. Glamtush…
An 18-year-old apprentice has impregnated 10 girls, including his master's daughter. Glamtush reports that an 18-year-old…
There were tears and pain as a Zambian couple buried their three sons who perished…
The United States’ National Transportation Safety Board (NTSB) has concluded its investigation into the helicopter…
Nigeria's foodtech sector holds immense promise to transform our nation's food production, distribution, and consumption…
![](data:image/svg+xml;charset=utf-8,<svg height="250px" width="660px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
