Twitter stock fell as much as 12% on Monday after the social-media company permanently suspended President Donald Trump’s account on Friday evening. The share-price decline wiped $5 billion from Twitter’s market capitalization.
Twitter’s bosses suspended Trump’s account – which had about 88 million followers – after the world leader’s fanning of conspiracy theories about voter fraud and election theft spurred thousands of his supporters to protest in the Capitol last week. (Businessinsider.com said the protestors set out to “lay siege” to the Capitol, which I think is a gross overstatement.)
Twitter’s move against the outgoing president — whose account had more than 88 million followers — was the first permanent suspension for a head of state.
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January 11, 2021 at 11:41AM