Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Twitter's Shunning of Trump Weighs on Shares

Stock MarketsJan 11, 2021 10:28AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Christiana Sciaudone

Investing.com -- It appears Twitter's only relevant with Donald Trump on the app. Shares tumbled 7.5% after the social media company banned the outgoing U.S. president.

On Friday, Twitter said it permanently banned Trump from its service “due to the risk of further incitement of violence,” cutting him off from his greatest megaphone, the New York Times reported. Twitter said in a blog post that Mr. Trump’s personal @realDonaldTrump account, with more than 88 million followers, would be shut down immediately.

"Trump has a very high and loyal following and a lot of those eyeballs will go away if Trump is permanently restricted from posting," said Andrea Cicione, head of strategy at brokerage TS Lombard, according to Reuters.

The company is set to report its first quarterly sales above $1 billion when it publishes results next month, according to data compiled by Investing.com. Shares of Twitter Inc (NYSE:TWTR)are up about 160% since Trump was elected in 2016.

Facebook (NASDAQ:FB) issued a similar ban following the violence at the Capitol on Jan. 6. It is the first time the company banned a head of state and was accompanied by the suspension of accounts belonging to vitriolic Trump fans, Reuters reported.

"The fact that a CEO can pull the plug on POTUS's loudspeaker without any checks and balances is perplexing," European Union Commissioner Thierry Breton wrote in a column for Politico. "It is not only confirmation of the power of these platforms, but it also displays deep weaknesses in the way our society is organized in the digital space."

Twitter's Shunning of Trump Weighs on Shares
 

Related Articles

BlackRock Earnings Miss, Revenue Beats In Q1
BlackRock Earnings Miss, Revenue Beats In Q1 By Investing.com - Apr 15, 2021

Investing.com - BlackRock (NYSE:BLK) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations. BlackRock announced...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (7)
ali vaezi
ali vaezi Jan 11, 2021 2:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
twitter = china = prefect toghether
Jason Holmes
Bluzguitar Jan 11, 2021 2:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
If you think this is about Trump you are narrow minded.
Jason Holmes
Bluzguitar Jan 11, 2021 2:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
If you think this is about Trump you are narrow minded.
Ronpaul bot
Ronpaul bot Jan 11, 2021 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
there is a real consumer need for competitiom to twitter..
Raymond Pasillas
Raymond Pasillas Jan 11, 2021 1:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Communist company ran by *****
Matt Kay
Matt Kay Jan 11, 2021 1:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wasn't it you who started this game with gay cakes? Taste your own medicine
Zach Earle
Zach Earle Jan 11, 2021 12:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well Thierry, it was his own decision to use Twitter instead of being a POTUS... so that one's kind of on him.
Scott Faries
Scott Faries Jan 11, 2021 12:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This company will never see my money and they should move to Communism China since they operate the same way!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email