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12.01.2021

Twitter stock slump after Trump ban

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The company’s stocks plunged nearly 6.5% on Monday after sinking as much as 12.3% earlier in the session

Stocks impacted: Twitter (TWTR), Facebook (FB)

Investors reacted negatively to Twitter’s decision to permanently ban President Donald Trump from its platform after the president incited riots last week inside the Capitol building. As a result, the company’s stocks plunged nearly 6.5% on Monday after sinking as much as 12.3% earlier in the session. In its decision, Twitter cited the fact that Trump had continued to violate the platform's rules, including inciting violence, even after the suspension. Of note, Trump's account had 88 million followers. The move drew criticism from some Republicans for quelling the president's right to free speech. Facebook has also suspended Trump at least through the end of his term. Its stocks finished 4% lower overnight.

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