Trump worth 3 trillion ’88 million followers’? Twitter’s stock price plunged after exit

When President Donald Trump was kicked out, stock prices on Twitter and Facebook plummeted.

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Facebook, Twitter. AFP=Yonhap News

The value of President Trump’s account with 88 million followers has been proven as a stock price.

On the 11th (local time), the share price of Twitter, a social media company that permanently suspended President Trump’s account, plunged 6.4%.

At one time in the morning, it plunged to 12.3%.

According to Marketwatch, Twitter’s market capitalization evaporated on the day of that day by $2.65 billion (about 2.9 trillion won).

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Facebook, which also suspended the Trump account indefinitely, also fell 4% on that day.

There is an analysis that there is a controversy over the abolition of Article 230 of the Communication Quality Law behind the plunge in Twitter and Facebook stock prices.

CNBC broadcast analyzed the cause of the stock price decline, saying, “The controversy over the abolition of Article 230 of the Communication Quality Act, which guaranteed social media immunity due to the post-storm following the suspension of President Trump’s account, has been raised again.”

Twitter announced on the 8th (local time) that it has decided to permanently suspend US President Donald Trump’s Twitter account, saying there is a risk of further violence. Twitter explained the background of the decision, saying, “As a result of scrutinizing the recent tweets of President Trump’s account and the context around them, especially how they are accepted and interpreted on and off Twitter, we have determined that there is a high risk of further incitement of violence.” did. (Twitter Capture) News 1

According to this provision, online platforms are exempt from legal liability for content uploaded by users, but President Trump has been asking Congress to reduce or abolish this provision.

The international community has also pointed out that this decision is a violation of freedom of expression.

German Chancellor Angela Merkel and Mexican President Andres Manuel Lopez Obrador criticized it for the purport of “The random suspension of user accounts by private social media companies, not legislative bodies, is a violation of freedom of expression.”

Reporter Shin Hyeyeon [email protected]