American News Jan 11, 2021 10:22 PM EST

Twitter stock plunges after Trump ban

The price of Twitter stock has fallen by as much as 12% on Monday, after the tech giant banned President Donald Trump from their platform late on Friday.

Twitter stock plunges after Trump ban
James Anthony The Post Millennial
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The price of Twitter stock has fallen by as much as 12% on Monday, after the tech giant banned President Donald Trump from their platform late Friday.

This represents more than $5 billion dollars of market capitalization that has been wiped out over the weekend.

According to Business Insider, Trumps presence on Twitter was great for their business with the controversial things he tweeted.

Trump is suspiciously missing already from this list of most Twitter followers. He would have clocked in at number five, in between soccer legend Cristiano Ronaldo and pop star Taylor Swift.

At the time of the suspension, Trump had over 88 million followers on his account.

Twitter execs released a statement on Friday, "After 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."

No word has been forthcoming on which posts of President Trump were the ones that incited violence.

Twitter has also been losing users since the Trump ban as well as money, exacerbating further a trend that has been deepening over the past several years.

Many people are scrambling to find other alternatives to Twitter, especially after popular alternative Parler has been taken off of Apple and Google's platforms and lost their server with Amazon.

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