Shares of Twitter Inc slumped 7% on Monday, on course to knock off about $2.5 billion from the market value of the social media company after it permanently suspended the account of US President Donald Trump. It was reported by Reuters.
Trump’s account had more than 88 million followers and had been retweeted billions of times.
Twitter said on Friday Trump’s suspension was due to the risk of further violence, following the storming of the US Capitol last Wednesday.
It was the first time the company had banned a head of state and was accompanied by the suspension of accounts belonging to vitriolic Trump fans.
As we reported earlier, Twitter suspended Trump on Wednesday. Following the ban on @realDonaldTrump, Trump sent a tweet late Friday from the separate account @POTUS, which belongs to the office of the president and has about 33 million followers.
“As I have been saying for a long time, Twitter has gone further and further in banning free speech, and tonight, Twitter employees have coordinated with the Democrats and the Radical Left in removing my account from their platform, to silence me,” the post reads.