Let’s dig into the driving markets before what happened over the weekend.
Twitter (TWTR) – Get Report Following in Facebook’s footsteps (American Plan) – Get Report, Instagram, Snapchat (Snap) – Get Report, And others by permanently suspending President Donald Trump’s account over the weekend.
Twitter announced its decision late Friday, citing concerns that the president’s accounts could be used to incite more violence following a rally in Washington DC, where Trump told attendees about electoral fraud concerns. Continued to claim. After the rally, a mob stormed the Capitol, killing at least five people, including a Capitol officer.
At 10:30 AM ET, Geo, Jim Cramer and Catherine Ross spoke on social media stocks, bitcoin, President Trump, and everything that rocked the stock market. January 11:
“We have permanently suspended the recent review of recent tweets from the @realDonaldTrump account due to the risk of further inciting violence,” Twitter said in a statement.
However, the move put pressure on social media stocks as investors sell after the verdict.
The riots in the Capitol called on Vice President Mike Pence from both Democrats and Republicans to implement the 25th Amendment, where the Cabinet and VP could remove President Trump.
If the amendment is not implemented, House Speaker Nancy Pelosi has threatened to impeach the president for the second time of his term. On Sunday, Pelosi told House Democrats that impeachment votes could take place this week, just nine days before the presidential-election Biden inauguration.
And then there is bitcoin.
The two-day decline of bitcoin, which has lost about $ 10,000 to cryptocurrency, is the worst decline since March.
Bitcoin reached a record high – $ 42,000 on Friday.
Curious about what Jim Kramer and his team are watching in Action Alert Plus? The Crime Members’ exclusive members-only daily rundown show has been given on action alerts.