Twitter and Facebook Lose $51.2 Billion in Market Value After Censoring President Trump

After Twitter and Facebook banned President Trump from their platforms, their market value saw a significant dip during the last two trading sessions. Collectively, the two tech giants lost $51.2 billion in combined value in just under one week.

Nearly all of the big social media sites permanently suspended the President and several other conservative accounts from their platforms pushing many users to move to less moderated sites like Parler. However, just as users began switching over, Amazon Web Services suspended Parler from its services, effectively shutting down the budding censorship-free site.

Lawmakers in North Dakota took notice of big tech’s seemingly free reign and proposed a bill that would allow users with censored or deleted accounts to file lawsuits against Facebook and Twitter. ‘An Act to permit civil actions against social media sites for censoring speech’ is currently sponsored by six legislators.

The bill states that a website with over 1 million active users would be liable in a civil action for damages to the person whose speech is restricted, censored, or suppressed, and to any person who reasonably otherwise would have received the writing, speech, or publication.”