When Twitter banned President Trump for life, leftists in the country celebrated.
Investors, however, saw the event completely differently.
As such, many of them bailed on the social media platform, with Twitter stock plummeting the day after the ban went into effect.
The Big Drop
Twitter had been hovering right around its 52-week high until the Trump ban news broke.
In the first trading session after the ban, the stock plummeted down from $51.48 to $47.15.
While the stock did rebound slightly, it is back down again today, currently sitting at $46.87.
That is more than a $5 billion spreadsheet loss from the company.
Why the Drop?
This is not so much about support for Trump as it is a smart business decision.
The fact that Twitter was able to lock out a sitting president does not bode well for big tech.
Politicians on both sides of the aisle are looking to pull the rug out from under Google, Twitter, and Facebook, and this may have given them exactly what they needed to make it happen.
Even though Democrats celebrate the banning, the power that Facebook, Google, and Twitter have right now is staggering.
From a Democrat perspective, better to take them down now before they turn on the party and hurt them as much as these outlets have hurt Republicans and Trump over the last four years.
Twitter was not alone, either, as both Facebook and Google saw drops, just not as significant as what has happened to Twitter.
Source: The Blaze