Twitter loses $5 billion in market value after Trump is permanently barred from the platform

  • Twitter’s stock price tumbled as much as 12% on Monday, erasing $5 billion from its market capitalization.
  • The tumble followed the social-media group’s permanent suspension of President Donald Trump’s account 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,” Twitter said.
  • Trump, who had about 88 million followers, generated enormous publicity for the platform with his controversial and incendiary tweets over the past six years.

markets.businessinsider.com/news/stocks/twitter-stock-price-president-donald-trump-permanently-banned-tweeting-2021-1-1029946778

Twitter announced on Wednesday its financial results for the fiscal year 2020, saying it recorded a net loss of $1.136 billion against net income a year earlier.

“2020 net loss was $1.14 billion, representing a net margin of -31 percent and diluted EPS [earnings per share – Ed.] of -$1.44. This compares to 2019 net income of $1.47 billion, representing a net margin of 42 percent and diluted EPS of $1.87.”

www.rt.com/business/515131-twitter-reports-net-loss/

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