Trump’s ban sees Twitter shares fall 1.8% because president’s followers account for HALF of the sites daily users – while Facebook’s rise despite ‘indefinite’ suspension.
Twitter’s share price slipped 1.8 percent by closing bell on Thursday.
It came after the social media giant suspended Donald Trump’s account for 12 hours on Wednesday over his dangerous rhetoric about riots at the Capitol.
Facebook – which went far further than Twitter with an ‘indefinite’ suspension on Trump’s account – saw its shares rise by two percent on Thursday.
The difference between the companies’ showings likely stemmed from the fact that Trump’s presence on Twitter has a much bigger impact on its bottom line.
Trump’s 89 million Twitter followers represent nearly half of the company’s total base of monetizable daily active users.
Less than two percent of Facebook’s daily active users – 35 million – follow Trump.
The 89 million followers on Trump’s main Twitter account, @realDonaldTrump, represented nearly 48 percent of the company’s total base of monetizable daily active users at the end of the third quarter.
Twitter shares fell after the site temporarily banned President Donald Trump for his dangerous rhetoric when a mob of MAGA fans stormed the US Capitol at his behest. The 89 million followers on Trump’s main Twitter account, @realDonaldTrump, represent nearly 48 percent of the company’s total base of monetizable daily active users.
Source: Daily mail