- THE EPOCH TIMES - Jan 19, 2021 -
Twitter shares—since President Donald Trump’s permanent ban—slid even more on Monday before a slight rebound.
As of Monday at around 11:20 a.m. ET, the San Francisco-based company’s stock was trading at $44.96—dropping about 0.50 percent. Earlier in the day, shares were trading below $44.60. But by 3:30 p.m., Twitter’s shares were up to $45.81.
On Jan. 6, during the Joint Session of Congress, the company’s shares were trading at $53.26. At this point, Twitter is down at least 15 percent so far in 2021.
Last week, CNBC analyst Jim Cramer warned that Twitter’s stock could slide even further because of Trump’s ban.
“I think that there are a lot of people who literally knew that the president was the most important person” on Twitter, he said, adding that “you had to keep checking him, and then you had to check people who talked about him.”
“And you just had this endless wave, this web that the president created, and then it was like action and reaction, so I think that the surprise factor of going to Twitter, which was of course the president, is gone!” he wrote. Trump had more than 88 million followers and his tweets typically had the most engagement in terms of retweets, comments, or “likes.”