Twitter shares are hammered Tuesday at midday following reports that Israel was weighing action against the company, adding to the growing woes of social media stocks.
Near 18:00 GMT, Twitter shares are down 12.0 percent at $30.79 following comments by Israeli Justice Minister Ayelet Shaked, who criticized Twitter for not doing enough to counter messages that incite violence against Israel.
Shaked warned the Israeli government was considering “legal action” against Twitter.
“Through Twitter, the terrorist organizations promote terror and incite violence, including public activity that they carry out without fear,” Shaked says.
Twitter’s tumble came as social media stocks overall were under pressure following widespread criticism of Facebook over reports that a data analysis firm hired by Donald Trump’s presidential campaign misused the data of some 50 million users.
— AFP
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