Twitter saw a $5 billion drop in market value after banning President Donald Trump from its platform.
Twitter’s total stock fell as much as 12% according to Businessinsider.com.
Trump had roughly 88 million followers at the time of his account being banned.
Twitter decided to suspend President Trump earlier in the week before a protest turned violent at the Capitol in Washington D.C.
“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.
Twitter had earlier temporarily suspend the White House account and removed all Donald Trump followers from it before restoring it for the use of the Biden administration.
Twitter’s stock likely fell because investors feel that Trump’s ban may cause users to either lose interest in the platform or leave it altogether. Many also feel that this was a politically motivated move by Twitter to silence a conservative voice.
Meanwhile, Facebook has also banned Donald Trump indefinitely from its platform due to his alleged contribution to the recent attack on the US Congress in which five persons, including a police officer died.
Democrats in Congress are seeking to impeach President Trump for the offence.
