CNBC host Jim Cramer gave Twitter a stern warning on Monday amid the consequences of the technology giant’s decision to ban President Trump from the social media platform.
Carl Quintanilla, co-anchor “Squawk on the Street”, pointed out on Monday morning that Twitter was the only major company whose share price fell significantly during the pre-market hours and lost more than 7% of its value after Friday’s eviction of the president. (Twitter’s share price fell 6.41% with the market closing on Monday.)
Cramer responded by explaining how significant Trump has become for the social media business since becoming president.
“I think there were a lot of people who literally knew that the president is the most important person and that you have to keep him going,” Cramer told Quintanilla. “And then you have to control people talking about him. You just had this endless wave, this web that the president created, and that was action and reaction.”
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Cramer stated that the “surprise factor” that Trump represents on Twitter is “gone”. The CNBC star has suggested that he has not checked the platform as urgently as he has since the president’s forced departure.
“I believe, Carl, Twitter should come up with a new dissertation very quickly, because I think they always have – they never talked about Trump’s power to bring people in,” Cramer continued. ‘I tell you the [@]realDonaldTrump was a great salesperson for Twitter. ‘
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Following Trump’s brief suspension following the violence that took place on Capitol Hill on Wednesday, Twitter announced Friday night that the president is no longer able to tweet.
“After careful review of recent tweets from the @realDonaldTrump account and the context surrounding them – specifically how they are received and interpreted on and off Twitter – we have suspended the account permanently due to the risk of further incitement to violence,” the company said. said. wrote in a blog post.