The stock of Meta Platforms dropped Monday after former President Trump labeled Facebook as “an enemy of the people” earlier that day.
Shares for Meta, the parent company of Facebook, dropped by about 4.5 percent to just under $484 after Trump’s Monday interview on CNBC’s “Squawk Box.” Forbes reported that this was the lowest closing for Meta since July of last year.
Trump doubled down on his opposition to a ban on the video-sharing platform TikTok in the United States, which Congress is set to take on this week. He said in his interview that Facebook would become “bigger” if TikTok was no longer allowed in the U.S.
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CNN reported that Meta’s shares also dropped by 1.2 percent on Friday following Trump’s post.
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Meta’s stock drops after former President Trump calls Facebook "an enemy of the people" https://t.co/Fw62EM9CZC pic.twitter.com/pQNwGoarZ8
— The Hill (@thehill) March 11, 2024
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