Facebook’s stock rose along with Donald Trump; its fall came when it took the blame for him. As Donald Trump rose to power in American politics, Facebook rose along with him. The day he announced his run for president, Facebook’s stock closed at $80.71. The day he was elected president, it closed at $124.22. And last week it hit its all-time high of $217.50 — just before it recorded the largest single-day market capitalization loss in history, cleaving $119 billion off its total value by the ding of the closing bell. And because of Trump. Facebook’s drastic fall from grace is a direct result of an influential faction of the American populace seemingly incapable of accepting the election of President Trump as legitimate, and resolved to reconcile this perceived paradox by casting blame on someone or something. Anything but an honest reflection of popular political wills sufficient to win the Electoral College. Meanwhile, the juggernaut Apple just hit the $1 trillion market capitalization mark. The juxtaposition speaks to the effects of political risk for technology companies and the varied exposures and approaches to an increasing volatility in public discourse. |