Twitter & Facebook Stocks Plunge As Trump-backed Investors Retract

January 12, 2021 12:14 AM AEDT | By Kunal Sawhney

Twitter & Facebook Stocks Plunge As Trump-backed Investors Retract

Twitter Inc. (TWTR:US or NYSE: TWTR)

Stocks of the social media company tumbled as much as 10 per cent in the premarket hours on January 11. While clarifying on Trump ban, Twitter stated that Trump’s tweets might lead to another violence by his followers at the inauguration.

At 7:21 AM ET, shares of the company were trading at US$ 51.48 per unit, down by 1.624 per cent intraday. Around 17.38 million units of the tech company changed hands that outperformed its 30-day average volume of 11.56 million.

Twitter’s stocks have yielded over 57 per cent return in one year. It has a present market value of approximately US$ 40.9 billion. The stock’s a price-to-cashflow is 43.10 and a price-to-book ratio of 5.242, as per the TMX portal.

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Facebook Inc. (FB:US or NASDAQ: FB)

On the back of Facebook's suspension of Trump, the company CEO Mark Zuckerberg validated the decision in a post on January 6. He argued that Trump seemed to determine using his Facebook handle to destabilize a peaceful transition of the president-elect, Joe Biden.

The company’s stock also opened in the red on Monday, January 11. At the time of writing this article, FB stocks were trading at US$ 267.57, a marginal intraday drop of 0.435 per cent. The company’s almost 18.57 million units had been traded by 7:10 AM ET.

FB stock has returned nearly 23 per cent in one-year, and its current market cap is almost 763.22 million. The stock is delivering a double-digit return on equity and assets.

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