Donald Trump ban results in $5 billion loss to Twitter
The stock price of Twitter was recorded to decrease by 12.3% on Monday due to the banning of the US President Donald Trump from the social media platform.
On Friday, the share was closed at $51.48, nevertheless, the stock price opened at $47.16 on Monday which was followed by a gradual decrease to $45.15 .
The decline resulted in loss of $5 billion. Later the stock price recovered to $49.
The rapid decline occurred because of the banning of Trump’s account which had 89 million followers.
According to analysts, the ban would lead to wrath from Trump supporters and losing users of the platforms.
“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,” said Twitter while blocking the account.