by Michael Snyder
The Economic Collapse Blog
Over the years, the big tech companies have made enormous amounts of money by monetizing discussions about politics. But now that Twitter and Facebook have silenced President Trump and have deeply alienated large portions of their user bases, their stock prices are tumbling. I figured that this would happen, but I didn’t anticipate that it would happen this rapidly. To be honest, what we are witnessing is nothing short of breathtaking. For example, at one point on Monday Twitter’s market value had fallen by five billion dollars…
As a result of the ban, Twitter stock fell 12 percent on Monday, and the share-price decline wiped $5 billion from the company’s $41 billion market capitalization.
According to Business Insider, the stock likely fell because investors are worried that the ban will diminish interest in the platform and lead to boycotts among those who see the decisions as politically motivated and a way to silence conservative voices.
The executives at Twitter may not have liked it, but President Trump was their number one draw by a very wide margin.