Twitter’s stock price plummeted more than 6% on Monday, the first day of trading since the social media giant booted President Donald Trump from its platform.
Last Friday, Twitter announced it had permanently suspended Trump’s account “due to the risk of further incitement of violence” after supporters of the president stormed the U.S. Capitol in protest of the 2020 election results. In the months preceding, Trump had frequently taken to Twitter to argue that the election was fraudulent.
It was the first time that the social media company had ever banned a head of state.
Conservatives blasted the ban as an unprecedented attack on free speech; leftists lauded it as “the most important moment in the history of social media”; and on Monday, investors expressed their own concerns, putting the social media company’s ticker price under pressure.
According to Yahoo! Finance, Twitter’s stock opened the day down 10% before cratering to as low as $45.17 per share, or 12.3% down on the day. The stock eventually rebounded over the next several hours to end the day down 6.4%.- READ MORE
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