Twitter and Facebook have seen $51 billion in combined market value wiped out since booting Trump from their platforms

SourceBusiness Insider
SectorEconomy
CountryMiddle east

Facebook and Twitter have collectively seen $51.2 billion erased from their market caps over the last two trading sessions as investors balk at their banning of President Trump.Facebook saw $47.6 billion erased from its public valuation, while Twitter's market cap dropped by $3.5 billion.Both companies announced last week they would permanently ban the president, saying keeping him on their platforms posed too large a risk of additional violence.The bans come as Trump faces blowback from the government and corporations for his role in inciting last week's violent riots at the Capitol.Watch Facebook trade live here.Watch Twitter trade live here. Facebook and Twitter, the two largest social media platforms to permanently ban President Donald Trump for his role in last week's Capitol riots, saw $51.2 billion in combined market value erased over the last two trading sessions. Companies across sectors have responded to the president's rhetoric in recent days by pausing political donations, making statements decrying his inflammatory remarks, and pulling products with links to right-wing movements. Facebook and Twitter possibly took the biggest retaliatory steps when they indefinitely banned Trump from their platforms on Thursday and Friday, respectively. Both companies cited the risk of additional violence ...read more...