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Former President Donald Trump was banned from several social media platforms in the wake of the Jan. 6, 2021 attack on the U.S. Capitol.
Here’s a look at what’s next for Trump in the social media world and how investors would have done investing in a social media stock that banned the former president.
What Happened: Social media platforms Twitter Inc and Facebook are among those that announced bans of Donald Trump in 2021. The bans came after the social media platform pointed to Trump’s role in the Jan. 6 attack on the U.S. Capitol and the potential for more violence.
Facebook, owned by Meta Platforms META, announced it was banning Trump on Jan. 7, 2021. The company later announced the ban would be for two years and open-ended in a ruling issued on June 4, 2021. Facebook said it would not review its two-year ban until Jan. 7, 2023, at the earliest.
While Trump was banned from posting on platforms like Twitter and Facebook, he made posts on Truth Social, a platform owned by his own Trump Media & Technology Group. Known as TMTG, the company announced a SPAC deal with Digital World Acquisition Corp DWAC in late 2021.
Truth Social and Digital World Acquisition have faced multiple challenges including shareholder votes, investigations, financial concerns, and recently, ties to Vladimir Putin.
Trump was welcomed back to Twitter after Elon Musk acquired the platform in 2022.
In February 2023, Trump was welcomed back to Facebook and Instagram, two units of Meta Platforms.
On March 17, 2023, Trump posted a campaign video on his Facebook page with the caption “I’m Back.” Trump announced his campaign for the 2024 election in November 2022.
Under the terms of an exclusive deal with Truth Social, Trump is not allowed to post on his Twitter or Facebook accounts until six hours after the post is made on Truth Social. The exception to the rule is when the posts are “related to political messaging, political fundraising or get-out-the-vote efforts.” Those posts can be made at any time.
Related Link: Donald Trump Added The Patent Office To List Of Government Agencies He’s Fighting
Investing $1,000 in META, DWAC: Meta Platforms announced a ban on Trump on Jan. 7, 2021. A $1,000 investment at the time could have purchased 3.76 shares. The $1,000 investment would be worth $735.49 today, a 26.5% decline.
Trump being banned is likely not the only reason the companies have seen shares fall, with major technology stocks seeing drops in 2022 on macro issues and earnings.
On the flip side, an investor who purchased shares of Digital World Acquisition after the SPAC deal was announced could have done better.
The SPAC deal was announced after market close on Oct. 20, 2021. A $1,000 investment in Digital World Acquisition shares at the open on Oct. 21, 2021, could have purchased 78.55 shares. The $1,000 investment would be worth $974.02 today.
Trump posting on Facebook for the first time since being unbanned could be something for investors to watch. Facebook and Twitter both saw strong interest in the posts that Trump was making when he was the president of the United States, and before he was banned.
Trump was also recently welcomed back to YouTube, the video platform owned by Alphabet Inc GOOGGOOGL. While he was banned on YouTube, Trump posted videos from speeches and events on Rumble RUM.
Also Read: Here’s How Much Marjorie Taylor Greene May Have Lost From Investing In The Donald Trump SPAC Deal
Photo: Shutterstock
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Image and article originally from www.benzinga.com. Read the original article here.