Wall Street Loses Interest In Twitter, Gab Takes Market Share, Market Cap Falls $4B After Cancelling POTUS

By: - January 11, 2021

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The stock for social media giant Twitter (TWTR) fell on exchanges today, at one point losing over 12% of its value ($4B) but recovering half that loss by the close.

The trading action happened after Twitter permanently banned the President of the United States Donald Trump and cancelled his account. Twitter also deleted Trump tweets from the official POTUS account.

The action came after the AntiFa-manufactured incident at the U.S. Capital on Jan 6th.

The incident raises again the question of Section 230 of the Communications Decency Act which provides U.S. social media companies immunity from prosecution for what happens on their platforms.

Online platforms received immunity for not taking on a ‘publisher’ role but it is obvious this line was crossed long ago.

It would be in both party’s interest to reign in the unlimited power held by these massive, and omnipotently powerful Silicon Valley corporations.

The only free-speech alternative to Twitter currently in operation, Gab.com, has taken on millions of new customers this week from Twitter, so much so its servers are overloaded as they attempt to satisfy massive demand.