Facebook, Twitter Pay Hefty Price for Booting Trump

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Face­book and Twit­ter crossed the Rubi­con by final­ly ban­ning Pres­i­dent Don­ald Trump, spark­ing a mass exo­dus of con­ser­v­a­tives from their plat­forms. As it turns out, this move like­ly also cost them finan­cial­ly, to the tune of bil­lions of dollars.

This week, Face­book and Twit­ter col­lec­tive­ly lost $51.2 bil­lion in mar­ket val­ue, Busi­ness Insid­er report­ed. Facebook’s stock mar­ket val­ue dropped $47.6 bil­lion while Twitter’s val­ue dropped by $3.5 bil­lion. Both Face­book and Twit­ter lost val­ue on Mon­day and Tues­day, while Twit­ter regained some of its val­ue on Wednes­day with Face­book waver­ing at its pre­vi­ous clos­ing level.

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