Monday, January 11, 2021 8:28 AM EDT
Twitter (TWTR) shares fell by about 6% at noon in Germany, and lost almost 7% at the Wall Street pre-open in its first session after the controversial suspension of Donald Trump's account on this social network last Friday. The social network has justified this decision by claiming that the messages from the still president of the United States incited violence and occurred after the assault on the Capitol last Wednesday by Trump defenders.
Twitter is not the only social network which has blocked Trump's account, as Facebook has also made the same decision. Its shares also fall in the pre-market opening, although not as intensely as Twitter: around 1.5%.
The controversy is splashing other companies as Trump supporters, in retaliation against Twitter and Facebook (FB), are moving to Parler, a social network with a design similar to Twitter. This has prompted Google (GOOGL), Apple (AAPL), and Amazon (AMZN) to remove Parler's app from their offering.
(Click on image to enlarge)
Source: Admiral Markets MetaTrader 5. Daily CFD Twitter Chart. Data range: from February 1, 2019 to January 11, 2021. Prepared on January 11, 2021 at 12:30 p.m. Keep in mind that past returns do not guarantee future returns.
As we see in the graph above, Twitter shares started a strong uptrend since hitting lows when the coronavirus pandemic began. However, they fell to around $ 39 in November and bounced back to $ 56. Now they are supported by the $ 50.50 support.
Twitter closed the past years with strong increases with the only exception of 2016: 2020, 69%; 2019, 11.5%, 2018, 19.7%; 2017, 47.3%; 2016, -29.5%.
Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") ...
more
Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:
This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
Any investment decision is made by each client alone whereas Admiral Markets Group AS investment firms (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
The Analysis is prepared by an independent analyst (hereinafter "Author") based on the Author's personal estimations.
To ensure that the interests of the clients would be protected and objectivity of the Analysis would not be damaged Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, you should make sure that you understand all the risks.
less
How did you like this article? Let us know so we can better customize your reading experience.
