Twitter Shares Drop Sharply After Trump Ban

Facebook shares plunged 4%
By Rob Quinn,  Newser Staff
Posted Jan 11, 2021 6:45 PM CST
Twitter Stock Drops More Than 6% After Trump Ban
The logo for Twitter is displayed above a trading post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – President Trump isn't the only person unhappy about his permanent ban from Twitter. The move appeared to worry investors, with Twitter stock dropping 6.4% Monday in the first day of trading since the company announced the president's ban, CNN reports. The company's stock is still up around 45% over 12 months, but banning Trump, who had 89 million followers, may have added to existing worries about a slowdown in user number growth. Other tech stocks also saw significant drops Monday, reports the AP. Facebook, which has suspended Trump until at least Jan. 20, was down 4%. Apple, Amazon, and Google's parent company Alphabet, which have moved against social media site Parler due to its connections to the Capitol riot, were down more than 2%. (Trump said Friday that he would be "building out on our own platform in the near future.")

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