After Trump bans, Facebook and Twitter see combined $51 billion in losses
Investors react negatively to surprise banishment of sitting president.
By Daniel Payne, Just The News, January 15, 2021 – 12:13pm
Facebook and Twitter have lost a combined $51 billion in market cap following their bans of President Donald Trump last week as investors balked at the tech giants’ surprise censorship of Trump roughly two weeks before his term was set to end.
Facebook bore the overwhelming brunt of the market plunge, according to Business Insider, seeing gargantuan losses of $47.6 billion following CEO Mark Zuckerberg’s announcement that Trump would remain suspended from the social media platform “indefinitely,” until at least after President-elect Joe Biden’s inauguration.
Twitter, meanwhile, saw its market cap plunge by $3.5 billion after it permanently suspended Trump from its servers due to claims that the president was inciting violence among his supporters with his posts.
In the week since the bans were announced, users have reportedly been flocking to alternative social media sites, ones that have touted a commitment to censorship-free services in contrast to the heavier hands of the mainstream social media platforms.
Have a tip we should know? Your anonymity is NEVER compromised. Email email@example.com
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.