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HomeGlobalDonald Trump’s Ban: Twitter Loses $5 Billion In Market Value

Donald Trump’s Ban: Twitter Loses $5 Billion In Market Value

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By Babajide Okeowo

Leading social media platform, Twitter’s stock price tumbled as much as 12% on Monday, erasing $5 billion from its market capitalization.

This development is coming on the heels of the decision of the micro-blogging site’s to permanently bar President Donald Trump from its platform

“After a close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to the risk of further incitement of violence,” Twitter said.

Trump, who had about 88 million followers, generated enormous publicity for the platform with his controversial and incendiary tweets over the past six years.

Recall that Social media sites Twitter and Facebook recently took the unprecedented steps of locking Donald Trump’s accounts in the wake of riots at the US Capitol by his supporters.

Twitter initially announced it was blocking the outgoing president’s account for 12 hours, while Facebook has barred him for a full 24 hours.

Twitter had earlier removed three posts by Mr. Trump for “repeated and severe violations” of its integrity policy.

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