Twitter Shares Down 7% In Pre-Market Buying and selling After Trump Is Completely Banned From The Platform
Twitter’s shares fell 7% in pre-market trading on Monday after the platform finally suspended President Donald Trump’s account on Friday. Twitter was one of several websites disappointing the president for his role in inciting violence among supporters on Wednesday, including Facebook, Instagram and Snapchat.
Twitter shares fell 7% on the Monday before trading after the company banned President Donald Trump … [+]
After reviewing Trump’s recent tweets, Twitter said the president, who was one of the most-visited people on the platform at the time, was at risk of further inciting violence.
The company then virtually tracked Trump across the internet to remove posts as the president repeatedly attempted to ban and tweet from other accounts he had access to, such as the president’s official @POTUS account and his account for the Presidential campaign to repeal.
The president claimed he would build his own social media network in the future.
Twitter also cracked down on reports by a number of Trump’s supporters who encouraged violence and spread misinformation, such as lawyer L. Lin Wood, who described Wednesday’s uprising as a coup “orchestrated” by antifa protesters, and Vice President Mike Pence as a traitor designated and communist.
After years of pressure to crack down on Trump misinformation, conspiracy and hate speech, platforms are now leaving him in droves after the president instigated violence among his supporters on Wednesday. Of these, Twitter is the most momentous. Twitter was Trump’s favorite way to connect with the world around him, and the president used the platform for everything from announcing policies and condemning critics to spreading hatred, misinformation and lies. Trump’s communication channels are certainly narrowing – Facebook has also banned the president and the right-wing app Parler has practically been banned from the Internet.
What to look for
Twitter and San Francisco police reportedly are preparing for a pro-Trump protest outside company headquarters on Monday after the ban.
88 million. This is how many Twitter followers Trump had when his account was banned. This made him one of the most visited on the platform.
All platforms that Trump has banned or restricted so far (Axios)
Twitter permanently bans Trump (Forbes)
Conservative social media app Parler is pretty dead (Forbes)
Twitter stocks drop 7% after permanent Trump ban (Forbes)
Parler runs the risk of going offline after bans from Amazon, Apple and Google (Forbes)