Former US President Donald Trump has issued a statement, scorning the social media giant, Twitter, after its share prices tumbled by nearly 15.16 per cent following the Friday market trade.
“Twitter stock plunged as results are no longer cutting it for investors. Shares are off 15% today. Bad forecasts are hurting the outlook but more importantly, in my opinion, it has become totally BORING as people flock to leave the site”, said Trump in his statement adding that this was the price the social media giant was probably having to pay for stifling free speech.
BREAKING: New statement from President Trump on Twitter: pic.twitter.com/iw19Zy30B4— Benny (@bennyjohnson) May 1, 2021
“I guess that’s what happens when you go against FREEDOM OF SPEECH! It will happen to others also,” Trump said in a statement released by his office in Florida.
According to reports, Twitter Inc.’s share prices fell by almost 15.16 per cent on Friday to $55.22, wiping out nearly all of its 2021 gains. This was a second-day fall as Twitter’s stock was down nearly 10 per cent in after-hours trading on Thursday as well as the company issued weak second-quarter guidance on revenue growth.
Though such fluctuations in stock prices are quite normal, the only fathomable reason behind Trump’s exuberance at the stumbling stock prices of Twitter is his vexation about being permanently banned by the social media giant.
Twitter permanently suspends Donald Trump
On January 9, Twitter had permanently banned Trump’s personal account (@realdonaldtrump). This move came two days after Twitter censored the then incumbent US President Donald Trump for 12 hours, amidst the violent protests in US Capitol Hill.
“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 had said.
Leaders across the world had condemned the manner in which Trump’s account was suspended by the platform.
Interestingly, then too, Twitter had seen a steep fall in the price of its stocks.