Twitter shares plummet 10% after Trump is permanently banned from the platform

• Twitter shares plunged up to 10% in pre-market trading on Monday.
• The fall in stock prices came after President Trump’s account was permanently suspended by the social media group.
• “After a detailed analysis 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 to violence,” said Twitter.
• Trump has generated huge publicity for the platform with his controversial and arson tweets over the past six years, and had about 88 million followers before the ban.
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Twitter shares fell by 10% in the premarket on Monday, after the social media company permanently banned President Trump’s account on Friday night.

Twitter chiefs suspended Trump’s account – which had about 88 million followers – after the world leader spread conspiracies about electoral fraud and election theft, prompting thousands of his supporters to surround the Capitol last week.

“After a detailed analysis 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 to violence,” said Twitter.

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The ban followed Trump’s suspension from rival Facebook for at least the remaining two weeks of his presidency. CEO Mark Zuckerberg defended the decision in a Facebook post on Thursday, arguing that Trump appeared to intend to use his account to undermine a peaceful transition of power and could cause more violence.

Twitter shares likely fell because investors fear that Trump’s ban will erode interest in the platform and lead to boycotts among those who see the decision as politically motivated and a way to silence a big conservative voice.

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