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Twitter stock falls 10% as it fears MAGA attacks following Trump's ban


Twitter saw its shares fall 6 percent on Monday and wiped $ 2 billion of company value on its first day of trading after Donald Trump was banned from the platform.

The tech giant permanently suspended the president, citing the "risk of further incitement to violence" after its supporters had attacked the US Capitol. It also purified its followers.

Facebook on Thursday also put Trump's account on hold until January 20, the day President-elect Joe Biden was inaugurated, and possibly indefinitely. The suspension also applies to Instagram.

Sheryl Sandberg, chief operating officer, said Monday the company has "no plans to lift the ban," saying, "Our ban is perpetual. We have at least said through the transition, but we have no plans to lift it. No plans to pick it up now. & # 39;

"At that moment, the risk to our democracy was too great to feel we had to take the unprecedented step of an indefinite ban, and I am glad we did," she added.

The aftermath of Twitter's permanent ban on Donald Trump continued over the weekend as his eldest son hit the social media website and loyalists fled to alternatives like Gab and Parler. Trump's account had 88.7 million followers, which is nearly half of the company's total base of monetizable daily active users.

& # 39; The world is laughing at America and Mao, Lenin and Stalin are smiling. Big Tech Can Censor the President? Freedom of speech is dead and controlled by left overlords, "Don Trump Jr. said in a tweet on Saturday, calling on supporters to join his mailing list." In case I'm next "

On Monday he retweeted a post that read: "The Internet was a hell of a lot safer before @Twitter, @Apple, @Google and @Facebook protected us from it" and wrote: "This time 1000."

On Friday, Twitter also banned two Trump loyalists – former National Security Advisor Michael Flynn and attorney Sidney Powell – as part of a broader clean-up of accounts promoting the QAnon conspiracy theory.

The trump-friendly platform Gab.com tweeted on Monday: & # 39; Twitter lost $ 4 billion today. LOL & # 39;

Twitter posted a drop of up to 12 percent in early trading on Monday

Police put up barricades in anticipation of a protest outside Twitter's corporate headquarters in San Francisco, California on Monday

Police put up barricades in anticipation of a protest outside Twitter's corporate headquarters in San Francisco, California on Monday

Police told The San Francisco Chronicle they were aware of a possible protest and had contacted the social media giant. A police car was parked in front of the building on Sunday and barriers were erected, NBC reports

Police told The San Francisco Chronicle they were aware of a possible protest and had contacted the social media giant. A police car was parked in front of the building on Sunday and barriers were erected, NBC reports

Police told The San Francisco Chronicle they were aware of a possible off-site protest and had contacted the social media giant.

No official demonstration is planned outside Twitter's headquarters, but online conversations revealed that Trump fans may be gathering to protest the decision.

A post on Saturday suggested that those present should bring "large" cable ties to "arrest violent agitators of the citizens". Another reportedly ordered protesters to cover their faces with masks and hats.

Twitter employees haven't been in the office since March last year when the coronavirus outbreak began. Its CEO Jack Dorsey reportedly made the extraordinary call to put Trump's account on hold on Friday while on vacation in French Polynesia.

Adam Lobsinger, a San Francisco official, said in a statement: “SFPD ​​has contacted representatives from Twitter. We will have sufficient resources to respond to demonstrations and service requests across the city. & # 39;

John Dennis, chairman of the Republican Party of San Francisco, said, “If the company applies the terms of use unequally, you will get a response.

& # 39; It will happen. I do not know the details of this protest, but I suspect you will see many of them. & # 39;

Twitter said in a statement: “While we respect people's right to express their views, we have been transparent about the factors that led to our decision last week.

"We have nothing to add, but we wanted to confirm that we continue to have mandatory home work for Twitter employees."

The trump-friendly platform Gab.com tweeted on Monday: & # 39; Twitter lost $ 4 billion today. LOL & # 39;

The trump-friendly platform Gab.com tweeted on Monday: & # 39; Twitter lost $ 4 billion today. LOL & # 39;

Parler also disappeared from the internet, disappearing from Apple and Google app stores on Monday after the tech giants cut ties with the platform.

Parler went offline just after 3 a.m. EST after Amazon booted the platform from its web hosting service and effectively shut it down until a new hosting partner could be found.

The website, hailed as a conservative-friendly alternative to Twitter by Trump supporters, is seen as a magnet for the far-right party and has been accused by Apple, Google and Amazon of continuing to allow violent messages after the riots on Wednesday.

Parler, with whom some of the rioters planned the uprising, was the most downloaded app in the Apple Store on Friday, before both Apple and Google blocked access to their app stores.

CEO John Matze warned in his last post before the 3am deadline that "we will likely be out longer than expected" as technology companies distance themselves from the "freedom of speech" website.

On Friday, Twitter also banned two Trump loyalists - former National Security Advisor Michael Flynn and attorney Sidney Powell - as part of a broader clean-up of accounts promoting the QAnon conspiracy theory. Twitter said it would take action against behaviors that can lead to offline harm

On Friday, Twitter also banned two Trump loyalists – former National Security Advisor Michael Flynn and attorney Sidney Powell – as part of a broader clean-up of accounts promoting the QAnon conspiracy theory. Twitter said it would take action against behaviors that can lead to offline harm

Trump, who was hiding in the White House, became increasingly isolated after a mob at the Capitol rose in support of his false claims of electoral fraud.

Trump, who was hiding in the White House, became increasingly isolated after a mob at the Capitol rose in support of his false claims of electoral fraud.

Pro-Trump protesters entered the U.S. Capitol on Wednesday

Pro-Trump protesters entered the U.S. Capitol on Wednesday

Republican Congressman Devin Nunes, who had an account with Parler, raged over "political censorship" after Apple and Google removed the app.

"Spread the word so your fellow Americans know about it," he urged his three million followers on the website.

Right-wing expert Ben Shapiro warned on Twitter that "the tech brothers are making a terrible and dangerous moment much more terrible and dangerous".

& # 39; No uniform standards are applied. There is reactionary deplatforming on behalf of one side, ”he claimed.

"Everyone on the right is rightly concerned that the same companies are five minutes away from depriving Conservatives of hosting content anywhere."

The crackdown on social media has rekindled a debate over whether tech giants should be treated as "publishers" with the same liability as news providers.

Secretary of State Mike Pompeo tweeted a picture of an analytics tool showing key elected Democrats on Twitter attracting tens of thousands of followers while key Republicans are losing them at the same rate.

"How to create an echo chamber …" wrote Pompeo.

Journalist Glenn Greenwald accused the tech giants on Sunday of faking Parler into destroying a crime. He claimed that "a lot more violence" was planned on Facebook.

He tweeted Monday to describe the Liberals as "overwhelmingly supportive" of big tech by using "brutal violence three times in 3 months to manipulate US policies".

Greenwald wrote: 'Tech monopolies – FB, Google, Apple, Amazon – have more concentrated wealth and power than anyone else in history. They used brute force three times in three months to manipulate US politics: NY Post censorship, Trump banning, Parler demolition. And liberals mostly support it.

& # 39; That these Silicon Valley monopolies pose a serious threat to political freedom and economic well-being is * not * right view.

“Authoritarians never believe that they are authoritarians no matter how much censorship, surveillance, jingoism and incarceration they ask for. They tell themselves that their enemies are so uniquely evil and dangerous – terrorists – that everything that is done in the name of fighting them is noble. & # 39;

House spokeswoman Nancy Pelosi said Sunday the House will go ahead with legislation to indict Trump while urging the vice president and cabinet to use constitutional authority to coerce him.

Parler is hailed by Donald Trump supporters as a conservative-friendly alternative to Twitter. Considered a magnet for the far right, he has been accused by Apple, Google and Amazon of continuing to allow violent messages after the attack on the Capitol on Wednesday

Parler is hailed by Donald Trump supporters as a conservative-friendly alternative to Twitter. Considered a magnet for the far right, he has been accused by Apple, Google and Amazon of continuing to allow violent messages after the attack on the Capitol on Wednesday

Shortly after 3 p.m. EST, Parler disappeared from the Internet with the error message "We cannot connect to the server" after Amazon pulled the plug

Shortly after 3 p.m. EST, Parler disappeared from the Internet with the error message "We cannot connect to the server" after Amazon pulled the plug

In his last post before the 3am deadline, Matze said that "most people with enough servers to host us have closed their doors on us".

In his last post before the 3am deadline, Matze said that "most people with enough servers to host us have closed their doors on us".

Trump, who was hiding in the White House, became increasingly isolated after a mob at the Capitol rose in support of his false claims of electoral fraud.

After his personal account was blocked on Friday, Trump went to the @ POTUS account and launched the idea that he could build his own "platform".

A crowd of Trump supporters overwhelmed police, broke security lines and windows, and raged through the Capitol on Wednesday, forcing lawmakers to disperse as they completed Biden's victory over Trump on the electoral college.

Trump's ban, Twitter, said in a statement: & # 39; In the context of terrible events this week, we made it clear on Wednesday that additional violations of Twitter rules would potentially lead to this very course of action.

'Our framework of public interest is for the public to hear directly from elected officials and world leaders. It is based on the principle that the people have the right to openly hold power to account.

"However, we made it clear years ago that these accounts are not completely above our rules and, among other things, cannot use Twitter to incite violence."