Facebook and Twitter have lost a combined $51 billion in market value since banning President Donald trump from their platforms as Americans across the country divest themselves from the companies’ stock offerings.
Yahoo! News reported that Twitter shares dive-bombed more “than 10% on Monday” following its decision to ban President Donald Trump from its site. “Shortly after market open Monday, the stock dropped as much as 12.3% to reach as low as $45.17 per share.” The stock has dropped from $51.48 right before the ban to $47.22 as an opening price today.
As the Business Insider reports, Facebook is losing value as well. Facebook saw $47.6 billion erased from its public valuation, while Twitter’s market cap dropped by $3.5 billion.
Facebook tumbled 4% on Monday and another 2.2% on Tuesday as shareholders dumped the stock, likely fearing the ban could drive users off the platform. By the time markets closed on Tuesday, Facebook’s market cap sat $47.6 billion below its Friday level.
Twitter plunged 6.4% to start the week and dipped another 2.4% as the sell-off continued into Tuesday’s close. The declines saw Twitter’s market cap drop by $3.5 billion.
To be sure, Twitter rose as much as 2.9% on Wednesday while Facebook wavered at its previous closing level. And analysts haven’t lowered the stocks’ median price targets following the bans, signaling the slides were likely knee-jerk reactions that will reverse over time.
Follow LifeNews on the MeWe social media network for the latest pro-life news free from Facebook’s censorship!
Meanwhile, YouTube has banned Trump for one week from uploading any new videos to the popular video-sharing service.
The Google-owned platform cited concerns over “ongoing potential for violence,” even though President Trump has repeatedly called for peace during and after riots at the U.S. Capitol last Wednesday.
YouTube officials indicated that the service would remove content President trump uploaded yesterday, claiming it somehow promotes violence but providing no proof that is so. Although Trump’s channel will stay online for users to view old videos, the president can’t live stream or add new videos to the account for one week. Comments have also been disabled on the channel.
“After careful review, and in light of concerns about the ongoing potential for violence, we removed new content uploaded to the Donald J. Trump channel and issued a strike for violating our policies for inciting violence,” a YouTube spokesperson said in an emailed statement.
YouTube indicated that a second strike would result in a 2-week ban of Presidnet Trump’s account and said a third strike would result in permanent suspension from the platform.
The social media giant Twitter first suspended President Donald Trump’s account after falsely claiming he promoted rioting and violence. In a statement on its twitter Support account, twitter official claimed that Trump’s recent Twitter posts were “in violation of the Glorification of Violence Policy.” Other social media platforms like Facebook, Instagram and Pinterest followed suit.
After Twitter censored him, Trump posted a statement in response from the official governmental account of the office of President, @POTUS.
“As I have been saying for a long time, Twitter has gone further and further in banning free speech, and tonight, Twitter employees have coordinated with the Democrats and the Radical Left in removing my account from their platform, to silence me—and YOU, the 75,000,000 great patriots who voted for me,” Trump said in a statement.
“Twitter may be a private company, but without the government’s gift of Section 230 they would not exist for long,” he added.
“I predicted this would happen. We have been negotiating with various other sites, and will have a big announcement soon, while we also look at the possibilities of building out our own platform in the near future. We will not be SILENCED!” Trump continued.
“Twitter is not about FREE SPEECH. They are all about promoting a Radical Left platform where some of the most vicious people in the world are allowed to speak freely,” Trump concluded. “STAY TUNED!”
Please follow LifeNews.com on Gab for the latest pro-life news and info, free from social media censorship.
Shortly after President Trump posted the statement, Twitter suspended that account as well.
“Using another account to try to evade a suspension is against our rules,” Twitter said in a statement to news outlets. “We have taken steps to enforce this with regard to recent Tweets from the @POTUS account.”
“For government accounts, such as @POTUS and @WhiteHouse, we will not suspend those accounts permanently but will take action to limit their use.”
Twitter explained its initial banning of President Trump’s personal account this way:
“After close review of recent Tweets from the @realDonaldTrump account and the context around them—specifically how they are being received and interpreted on and off Twitter—we have permanently suspended the account due to the risk of further incitement of violence,” Twitter said in a statement. “In the context of horrific events this week, we made it clear on Wednesday that additional violations of the Twitter Rules would potentially result in this very course of action. Our public interest framework exists to enable the public to hear from elected officials and world leaders directly. It is built on a principle that the people have a right to hold power to account in the open.”
It added: “However, we made it clear going back years that these accounts are not above our rules entirely and cannot use Twitter to incite violence, among other things. We will continue to be transparent around our policies and their enforcement.”
Twitter cited two of the president’s most recent posts as justification for its action, neither of which promoted rioting or violence in any fashion.
The first post read, “The 75,000,000 great American Patriots who voted for me, AMERICA FIRST, and MAKE AMERICA GREAT AGAIN, will have a GIANT VOICE long into the future. They will not be disrespected or treated unfairly in any way, shape or form!!!”
A second post indicated President Trump would not attend pro-abortion Joe Biden’s inauguration.
“To all of those who have asked, I will not be going to the Inauguration on January 20th.”
That was the final post to Twitter before it removed President Trump from its platform.
Twitter claimed that the two posts had violated its “Glorification of Violence policy.” The policy aims to “prevent the glorification of violence that could inspire others to replicate violent acts.”
It claims Trump is “highly likely to encourage and inspire people to replicate the criminal acts that took place at the U.S. Capitol on January 6, 2021.”
How can a tweet about not attending the inauguration be considered violent. Twitter stretches the truth to claim it “is being received by a number of his supporters as further confirmation that the election was not legitimate and is seen as him disavowing his previous claim made via two Tweets (1, 2) by his Deputy Chief of Staff, Dan Scavino, that there would be an ‘orderly transition’ on January 20th.” It further claimed that Trump’s statement “may also serve as encouragement to those potentially considering violent acts that the Inauguration would be a ‘safe’ target, as he will not be attending.”
Twitter also claimed the term “American patriots … is also being interpreted as support for those committing violent acts at the US Capitol.”
The social media giant also speculated that Trump’s saying that his supporters have a “GIANT VOICE long into the future” and that “They will not be disrespected or treated unfairly in any way, shape or form!!!” is being interpreted as “further indication that President Trump does not plan to facilitate an ‘orderly transition’” despite his repeated statements otherwise.
Twitter claims that Trump supporters are planning future violence, saying “Plans for future armed protests have already begun proliferating on and off-Twitter, including a proposed secondary attack on the US Capitol and state capitol buildings on January 17, 2021.”
The social media giant also removed the Team Trump account used by President trump’s campaign to post videos, statements and other items promoting his re-election.
But the record shows President Trump never incited violence and called for peace.
The president himself condemned the violence in very clear remarks:
“Like all Americans, I am outraged by the violence, lawlessness, and mayhem. I immediately deployed the National Guard and federal law enforcement to secure the building and expel the intruders. America is and must always be a nation of law and order. The demonstrators who infiltrated the Capitol have defiled the seat of American democracy. To those who engaged in acts of violence and destruction, you do not represent our country. And to those who broke the law, you will pay.”
After the Electoral College vote, President Donald Trump promised a peaceful transition of power to the pro-abortion president.
“Even though I totally disagree with the outcome of the election, and the facts bear me out, nevertheless there will be an orderly transition on January 20th. I have always said we would continue our fight to ensure that only legal votes were counted. While this represents the end of the greatest first term in presidential history, it’s only the beginning of our fight to Make America Great Again,” he said.
His spokeswoman also condemned the rioting.
“We condemn it, the president and this administration, in the strongest possible terms,” White House press secretary Kayleigh McEnany told a press conference about what happened at the Capitol. “It is unacceptable and those that broke the law should be prosecuted to the fullest extent of the law.”
She said “a group of violent rioters undermining the legitimate first amendment rights of the many thousands who came to peacefully have their voices heard in our nation’s capital.”
“Those who violently besieged our capitol are the opposite of everything that this administration stands for,” she said. “The core value of our administration is the idea that all citizens have the right to live in safety peace and freedom.”
She said that people working in the White House “are working to ensure an orderly transition of power.”