Twitter’s stock price is collapsing after the company banned President Trump from its platform.
Twitter hit a six-month high of nearly $56 a share before Christmas, but the recent purge of Trump triggered a stock sell-off that’s dropped the price to nearly $46 a share at the time of this writing.
The company was suffering a similar collapse back in 2015 before Trump announced his presidential campaign.
The company started recovering in late 2017, likely due to Trump dominating the flow of conversation on Twitter.
Some analysts have suggested that Trump ‘saved’ Twitter by making it relevant again, as the platform was losing relevance with average social media users who can’t attract large audiences.
Unlike other social media sites that emphasize connecting with friends and family, Twitter is geared toward users who can sustain large audiences, which makes it less likely for users to stay motivated if they feel nobody is listening to them.
“Twitter stock likely fell because investors are worried the Trump ban will erode interest in the platform and lead to boycotts among those who see the decision as politically motivated and a way to silence a major conservative voice,” said Business Insider.