Facebook, Twitter lose billions in value after censoring Trump, conservatives

Facebook saw its stock drop on Monday, amid an unprecedented Big Tech crackdown on social media’s most famous user.

The company’s market cap fell by $34 billion after it indefinitely suspended President Donald Trump’s account, Business Insider reported.

Facebook, Twitter shares drop amid Big Tech crackdown

Facebook made the move after a mob of Trump supporters stormed Capitol Hill on Wednesday. The riot has prompted massive outcry against Trump, with CEO Mark Zuckerberg claiming the risk of letting Trump use Facebook is “simply too great.”

In a shocking move, Twitter permanently suspended its most famous user Friday, and a series of retaliatory moves have followed from Big Tech and Wall Street.

With investors fearing backlash, Facebook’s stock fell by as high as 4.5 percent on Monday, resulting in a $33.6 billion loss in value before shares recovered.

Twitter’s stock closed at a loss of six percent, dropping as low as 12 percent throughout the day. The company’s market cap fell by $5 billion.

“These moves, whether you consider them justified or not, could well see them lose further users if they become seen as arbiters of what is considered politically correct or acceptable,” said Michael Hewson, chief analyst at CMC Markets UK, told Reuters.

Wall Street targets Trump

Amazon stock also dropped as much as 2 percent after the company shut down Parler, a right-wing alternative to Twitter, prompting a lawsuit.

Facebook’s COO Sheryl Sandberg said Monday that the company has no plans to lift the ban on Trump. The company will also censor the Trump rallying cry “stop the steal” ahead of Joe Biden’s inauguration next week.

“Our ban is indefinite. We’ve said at least through the transition, but we have no plans to lift it,” she said. “We’ve been very clear. There’s obviously so much happening and this is such a big step. We will definitely let people know and be very transparent about any changes to that.”

The Big Tech purge has prompted alarm about the future of free speech from a range of critics, from Trump to Germany’s chancellor Angela Merkel.

The tumult in the stock market comes even as Trump is facing retaliation from Wall Street, with his largest lender, Deutsche Bank, moving to drop him on Tuesday.

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37 Responses

    1. As a Marine, US Citizen and Conservative I have already canceled FB PERMANANTLY. Will not ever go back on. I do not plan on using any social media and I own a business that might actually get something from it. Not worth it. I wish I could get rid of cell phone and internet but that hurts me more than them.

    2. I AGREE ! I can’t believe the WHOLE WORLD is being threatened by these very biased and extremely dangerous and evil Gods ? they sure do act like evil GODS, those ceo s have to be evilly possessed !

  1. Awesome,! Hit em in the bank account! And don’t forget about Amazon who’s stock price around $3120 per share could use a come to Jesus meeting as well.

    1. Absolutely. I canceled my amazon subscription which wont matter to much, but it will if thousands cancel their subscriptions!!!!

  2. Don’t forget the companies who say they will no longer give donations to the Republican Party even though they gave very little compared to the Demorats Party.

  3. I deleted facebook and I have never bought anything from Amazon and now I have another reason not to. I do not have a Twitter account nor will I ever. Tired of all the self important crooked torrent and they will not ever tell me how to live. Freedom is far more important. Plus I am a survivor and lived without any of them before and can darn sure live the rest of my life without any of them.

  4. I agree 100%, I grew up and lived a lot of years without any of them! I know how to use a phone and I am very good with pen and paper, I communicated very well before they came into my life, NO Love loss here! Also I enjoy shopping in person in small local shops, actually I prefer it, No need for Amazon, Wal-Mart or any of the others trying to control my life.

  5. nazi tactics from the 1920 nd 1930,s!!!~thats how the brown shirts of the naziparty started party and it did not end well for any of them!!!!this is America, all 330 million of us right or left!!!if the left had any sense they would see it and oppose what is happeningQ!!!has NOTHING to do with Trump biden or any political candidate!!!it has to duo with the 1stamendment and MOST of all,,,,the CONSTITUTION THAT holy document that makes us what we are, NOT with the george soros and michael bloomberg olf this world. no wonder so many countries are just itching to get their hands on george soros!!!!

  6. The demonrats are tearing their own house down! Let Zuckerberg, Dorsey, amazon and all the rest hit rock bottom! Give them what they are asking for, a total shut down of their platforms! They need us, we don’t need them! Piglosi and her ilk are going crazy, attempting to destroy President Trump and us! What are they in such a panic over? Piglosi is loosing what is left of her mind, running scared! What is in those lap tops that were taken? Who took them? Why are they trying to purge all conservatives, force senators to resign, anyone who backs President Trump? What are they so afraid of? Will we, the American people ever know? President Trump needs to declare martial law, arrest all of them and hold military tribunals, prosecute and imprison all of them in order to save our country! It must be done BEFORE the inauguration so joebama can’t Take over!

    1. I agree , many I talk to are dropping there stock or not going to buy from Amazon and twitter. Taken away freedom of speech, they can burn in , you no want. Google spys on me and I against them ,they tell every body were I go and ask them ,want do you think about the place he’s been. I never gave google permission to do that. Now they telling they will be taking my pictures off. Which is my pets and house plants I discovered. Google wants my birthdate, which is a violation. I had my phone company get on to check my phone and there surprised how there acting.My view is they may be communist , china who nos has maybe taken over by china. Hard to say I contact the attorney general office to file a complaint. I hope everybody does in there own state.

  7. If we had term limits all the problems would disappear. It’s only the career politicians that want the greed and everything that goes with there so called power. Everyone has forgotten or just ignore they work for the American people.. Biden even said that on tv. Why would he ever say something like that?

    1. Wait until they use the 25th on Joe…that should be fun. Kamala could not get elected on her own so the dems devised this plan. She may even be a Communist.
      God help us all!!!!

  8. I agree with all of the comments, especially –TERM LIMITS–I believe with President Trump it would happen …but not under the Communist/Social
    regime taking place; Only in America they are not facing a firing squad for
    treason!

  9. Stop calling those trouble makers from 1/6 a “mob of Trump supporters,” because we all know they weren’t supporting President Trump. It’s an insult to all conservatives, republicans, and the President to call them that. The real “Trump supporters” were the hundreds of thousands of people packing Washington DC peacefully to protest a stolen election, who have been ignored by the media and democrats in favor of filling the air with hyperbole and sensationalism. Comparing that short uprising of a handful of people to 9/11 and labeling them “domestic terrorists” is ridiculous. For months (Years really) we’ve had to endure being terrorized by radical, liberal groups looting, rioting, and burning down cities without any retort or condemnation by the government, but now they play the righteous indignation card, and use it to impeach the president based on a false accusation and the idea that no one has ever objected to the EC vote before. The democrats have done it the last 3 times a republican was elected!! And this time there is proof of cheating and an actual reason to object! It’s not just because no one likes Biden.

  10. Votes for Biden were greatly exaggerated! Mostly they were fraudulent and counters added in dead people or people whose actual addresses were not able to be found or who lived in another state, and/or algorithms placed in the Dominion voting machines. The facts given for the Dominion machines were verified by the CEO of that company who stated that these machines could be hacked by anyone who knew how to do it! Another reason is the left’s total and complete hatred of President Donald Trump! The Electoral College has demeaned itself. SCOTUS has demeaned itself. The democrats have completely demeaned themselves to the point of very little re dry being made. Pelosi and Schumer and their cabal should be removed from office! What more can I say?

  11. EVERYONE ON FACEBOOK AND TWITTER SHOULD TELL ALL THEIR FRIENDS AND FAMILY THEY ARE MOVING TO ANOTHER SITE..SO THEY MOVE TOO. CLOSE THEM DOWN

  12. Hit them in the wallet if they don’t listen to our calls they will listen to our money that will hurt them we did great under trump

  13. I stopped using Facebook years ago when I realized that it is nothing but a “time waster” and serves no valid purpose in anyone’s life!

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