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AMAZON. I was broke,1y 6m ago, bro. I landed back in Los Angeles with $200 in my pocket and $9k in back child support. I borrowed a van to sleep in from an actor. The gas tank is always empty. Took me 3 weeks of bullshit interviews and background check and got a security job at Amazon in Culver City for $16/h, just when the virus hits Wuhan. Order vitamins from Amazon. Rent a mattress in a living room close to work, $600/week from another actor. Return the van. With the Amazon hourly job and LA rent you have to rent a jail cell, otherwise you won't make the bills. Just sleep, shower and occasionally cook a large quantity of meat in that shared kitchen. Had to be invisible for the landlord and disappear every morning at 5:30AM. Too many sub-renters in that apartment. Perfect. I was guarding Amazon empty buildings and asking for more work at other Amazon locations. I would get reprehended for working too many hours overtime because I was trying to make $1000/week in average instead of $600. Hourly Amazon workers would call in sick regularly, supervisors were too dumb to schedule the shifts properly. Slavery for the rich. Save every dollar. I was now making more money than the supervisors. Only eat items almost expired from the 50% off section at the grocery store. Grind more, waste more of my valuable time guarding nothing. What the fk am I doing here? I'm supposed to be writing and shooting movies. I want to quit every day. Don't. Smoke even more weed. I hate money and I have no option but somehow multiply them. How? From time to time Amazon "intellectual" $250k/year employees would visit so they can do Nothing too. Bro, the whole time I worked there, all Amazon workers were pretending to be working and the Amazon stock was keep going up. #Robinhood What the fk is the stock market? #wallstreetbets Risk all the money. cash.app Swing trading research. #YOLO Buy low sell high. All in, one stock at the time. #bitcoin #AMC @elonmusk #dogecoin..... Pull the money out. Get the fk out of there. Now I can make fiction movies again. Fk Amazon.
The SpongeBob Movie
"...A celebration of friendship..." -Variety. Watch now to see what all the buzz is about.
Money Isn’t Pouring Into U.S. Stocks. What That Means for the Market.
BusinessBarrons.com•15 hours ago
Money Isn’t Pouring Into U.S. Stocks. What That Means for the Market.
Household equity holdings now account for 47% of total assets, according to Citi. That is the highest level since 1970. Returns were subpar for the next decade.
Bitcoin bears are stalking crypto prices — here’s how low they could go
BusinessMarketWatch•10 hours ago
Bitcoin bears are stalking crypto prices — here’s how low they could go
Bitcoin is setting up for a near-term downturn that could see it shed a good chunk of its recent gains, even if the longer-term outlook appears healthy for the world's No. 1 crypto.
The Crypto Daily – Movers and Shakers – April 21st, 2021
The Crypto Daily – Movers and Shakers – April 21st, 2021
FX Empire
‘Crypto Dad’ Giancarlo Joins Board of Bitcoin Lender BlockFi
‘Crypto Dad’ Giancarlo Joins Board of Bitcoin Lender BlockFi
Bloomberg
Churchill Capital Corp. IV operates as a blank check company. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded by Michael Klein on April 30, 2020 and is headquartered in New York, NY. The listed name for CCIV is Churchill Capital Corp IV.
Read Less
CEO
Michael Stuart Klein
Employees
—
Headquarters
New York, New York
Founded
—
Market Cap
5.22B
Price-Earnings Ratio
—
Dividend Yield
—
Average Volume
16.98M
High Today
$19.82
Low Today
$17.62
Open Price
$18.31
Volume
21.29M
52 Week High
$64.86
52 Week Low
$9.60
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Rocket Companies: Back To The Ground
Apr. 16, 2021 6:00 AM ETRocket Companies, Inc. (RKT)4 Comments2 Likes
Summary
Rocket temporarily saw its share price take off a few weeks ago driven by a momentum spike.
This has quickly self-corrected itself, providing a great trading opportunity.
Continued earnings pressure is seen in the near term after unsustainable earnings power in recent quarters, as support could be found here.
Looking for a helping hand in the market? Members of Value In Corporate Events get exclusive ideas and guidance to navigate any climate. Learn More »
De Zitting van het Symbool van het huis over een Staafgrafiek - Beurs en Het Concept van het Onroerende goederen
Photo by MicroStockHub/E+ via Getty Images
Rocket Companies (RKT) has been an intriguing stock to watch after it went public last summer. My last take on the name dates back from the last days of 2020 in an article called: ''After the peak''. I concluded that the investment remained an utterly difficult proposition to value at its merits as even as annualised earnings power fell from $6 to roughly $4 per share, valuation were low.
This was of course driven by the abnormal year of 2020 which was a record year for the industry as normalized earnings power realistically is much lower, although the truth be said is that Rocket is a secular growth play within the industry. The mere disentangling of structural growth and cyclical nature made it a very difficult investment case, yet with shares continued to be under pressure, I did end up buying a reasonable position at $20 in January.
The Thesis
In December, I called Rocket nearly a binary investment case since the company went public over the past summer. The company is a pioneer in the mortgage lending industry, pioneered by veteran Dan Gilbert, with a focus on the long haul, simplicity, trust and embracing of technological solutions.
This has resulted in the company having grown from holding a mere 1% market share a decade ago to 10% as of recent, as the 20% average growth rate has been bolstered by the simple fact that the industry overall has grown quite a bit as well. Automation and simplification made it a great business model for Rocket, as well as for consumers who embrace the solutions as well.
On top of this secular trend was the impact of Covid-19 as record low interest rates and a race from the city to the urban areas have resulted in boom times for the mortgage origination industry, certainly as many consumers have received big assistance given the nature and speed at which the pandemic spread.
Rocket went public in at $18 in August, as this was a very large offering with 1.93 billion shares outstanding, giving the company at $35 billion equity valuation. As often the case with the balance sheet of a financial institution, it is very complicated to ''read'' as the company originates loans which it sells to end investors, making that it always holds some inventory in loans, in fact ''some'' represented $21 billion back at the time of the public offering.
With no real equity value on the balance sheet, the valuation was driven by earnings power and this showed a remarkable rise over the past years. The company reported sales of around $4 billion in 2017 and 2018 and a $5.9 billion adjusted revenue number in 2019. The company reported adjusted earnings of $1.3 billion, or about $0.70 per share, which worked down to a 25 times earnings multiple based on the offer price.
Momentum has been crazy in 2020. First quarter sales rose to $2.1 billion on the back of $52 billion in origination volumes, with revenues of $5.3 billion in the second quarter approximating all the revenues in 2019! Adjusted profits of $2.8bilion worked down to a run rate of nearly $6 per share, for a mere 3 times multiple, as volumes and margins exploded, with longevity of those earnings being the key question.
Third quarter origination volumes rose from $72 billion in the second quarter to $89 billion yet despite this increase in volumes, adjusted revenues fell a bit already to $4.7 billion, as adjusted earnings fell from $2.8 to $2.4 billion, close to $5 per share. This came as margins on the loans fell 70 basis points on a sequential basis to 4.5%, still a hefty margin.
The company guided for fourth quarter volumes between $88 and $93 billion, with margins set to fall to roughly 4%, as earnings likely trend around a dollar per share for the quarter on that basis. Even if annualised earnings power had been cut to $4 per share the earnings yield of around 20% was very lucrative, although the company did not initiate a dividend yet, although it announced a billion share repurchase program.
This looked compelling enough, although I am very well aware that the true normal rate of earnings power likely is much lower, as the business was doing well in 2019 yet earned just $0.70 per share. A turn in the economy or housing market (certainly given the higher interest rates in recent months) could result in big losses on the inventory of loans held on the balance sheet, on top of the reduced earnings power in such a scenario.
All this and the real average earnings power over time is what drives the investment case as from this we have to disentangle the secular growth from the highly cyclical element of this industry as well.
What A Quarter!
The past quarter has been quite eventful for two reasons. Shares were trading dead flat in the first two months of the year but spiked higher in early March to levels in their forties as I noted that this was a momentum driven squeeze, induced by the fourth quarter results and the announcement of a $1.11 special dividend, causing me to eliminate my entire position at an average of $32, before reinitiating a position again in $22 later in March.
Of course, many investors understand the battlefield between longs and short and with many shares held by insiders, the potential for a squeeze was already there, certainly given the specific conditions among certain stocks in the quarter.
The fourth quarter numbers were quite solid if you ask me. Origination volumes topped the $100 billion mark, as revenues of $4.7 billion were flat on a sequential basis, yet this was better than expected. Adjusted earnings of $2.2 billion were a little softer, but the adjusted $1.14 per share earnings number was still stronger than I assumed.
With the equity value having risen to $4 per share, the earnings power of the operations is still key in driving the valuation of the stock. It however is clear that continued pressure on earnings is seen with net origination volumes seen between $88 and $95 billion, as gain on sale margins are set to fall to 3.60-3.90%. So based on the fundamentals nothing much has changed over the past quarter, yet in the meantime I have made a 50% gain on my position, with shares now trading at the same levels as they did when I acquired the position.
Still expecting a current $3-$4 per share earnings number in current conditions, while the balance sheet is improving and money is available to hand out to its shareholders, I continue to be upbeat, certainly as momentum and squeezes might (again) impact the stock. That said, I continue to hold discipline with the size of the position as I continue to expect quite some reversal to normal volumes and margins, which could severely limit the earnings power in the intermediate term, as well as the arrival of competitors.
Comments (2.01K)
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CEO is a really smart guy. At this valuation I can wait for further growth.
Like
bertvillamor
Today, 7:55 AM
Premium
Comments (16)
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I agree its time to sell some position before the rocket explode in the ground,
April 16, 2021
For more than a year, Dr. Andrew Wollowitz has mostly been cloistered inside his home in Mamaroneck, N.Y.
As chief of emergency medicine at Montefiore Medical Center in the Bronx, Dr. Wollowitz, 63, was eager to help treat patients when the coronavirus began raging through the city last spring. But a cancer treatment in 2019 had obliterated his immune cells, leaving him defenseless against the virus, so he instead arranged to manage his staff via Zoom.
A year later, people in Dr. Wollowitz’s life are returning to some semblance of normalcy. His wife, a dancer and choreographer, is preparing to travel for work at Austria’s National Ballet Company. His vaccinated friends are getting together, but he sees them only when the weather is nice enough to sit in his backyard. “I spend very little time in public areas,” he said.
Like his friends, Dr. Wollowitz was vaccinated in January. But he did not produce any antibodies in response — nor did he expect to. He is one of millions of Americans who are immunocompromised, whose bodies cannot learn to deploy immune fighters against the virus.
Some immunocompromised people were born with absent or faulty immune systems, while others, like Dr. Wollowitz, have diseases or have received therapies that wiped out their immune defenses. Many of them produce few to no antibodies in response to a vaccine or an infection, leaving them susceptible to the virus. When they do become infected, they may suffer prolonged illness, with death rates as high as 55 percent.
Most people who have lived with immune deficiencies for a long time are likely to be aware of their vulnerability. But others have no idea that medications may have put them at risk.
“They’ll be walking around outside thinking they’re protected — but maybe they’re not,” said Dr. Lee Greenberger, chief scientific officer of the Leukemia and Lymphoma Society, which funds research on blood cancers.
The only recourse for these patients — apart from sheltering in place until the virus has retreated — may be to receive regular infusions of monoclonal antibodies, which are mass-produced copies of antibodies obtained from people who have recovered from Covid-19. The Food and Drug Administration has authorized several monoclonal antibody treatments for Covid-19, but now some are also being tested to prevent infections.
Convalescent plasma or gamma globulin — antibodies distilled from the blood of healthy donors — may also help immunocompromised people, although a version of the latter that includes antibodies to the coronavirus is still months from availability.
“It’s a clear area of unmet need,” said Hala Mirza, a spokeswoman for Regeneron, which has provided its monoclonal antibody cocktail to a handful of immunocompromised patients through a compassionate use program. (Regeneron released trial results this week showing that the cocktail reduces symptomatic infections by 81 percent in people with normal immune systems.)
It’s unclear how many immunocompromised people don’t respond to coronavirus vaccines. But the list seems at least to include survivors of blood cancers, organ transplant recipients, and anyone who takes the widely used drug Rituxan, or the cancer drugs Gazyva or Imbruvica — all of which kill or block B cells, the immune cells that churn out antibodies — or Remicade, a popular drug for treating inflammatory bowel disease. It may also include some people over age 80 whose immune responses have faltered with age.
“We’re extremely concerned and interested in trying to see how we might be able to help those particular patients,” said Dr. Elad Sharon, an immunotherapy expert at the National Cancer Institute.
As the pandemic spread, doctors who specialize in treating blood cancers or who care for immunocompromised people expected at least some of their patients to encounter difficulties. Dr. Charlotte Cunningham-Rundles, an immunologist at Icahn School of Medicine at Mount Sinai in New York, has about 600 patients who are almost entirely dependent on getting regular doses of gamma globulin to stay safe from pathogens.
Even so, 44 of her patients became infected with the coronavirus; four died, and another four or five had long-term illnesses. (Chronic infections may offer opportunities for the virus to evolve into dangerous variants.)
ImageDr. Charlotte Cunningham-Rundles, an immunologist at Icahn School of Medicine at Mount Sinai.
Dr. Charlotte Cunningham-Rundles, an immunologist at Icahn School of Medicine at Mount Sinai.Credit...Joshua Bright for The New York Times
Steven Lotito, 56, one of Dr. Cunningham-Rundles’ patients, was diagnosed with a condition called common variable immune deficiency when he was 13. Before the pandemic, he had an active lifestyle, exercised and ate well. “I’ve always known to take sort of special care of my body,” he said. That included infusions of gamma globulin every three weeks.
Despite taking careful precautions, Mr. Lotito caught the virus from his daughter in mid-October. He had a fever for nearly a month, and spent a week in the hospital. Convalescent plasma and remdesivir, an anti-viral drug, provided relief for a couple of weeks, but his fever returned. He finally felt better after one more infusion of gamma globulin, during which he sweated through four shirts.
The Coronavirus Outbreak ›
Latest Updates
Updated
April 15, 2021, 3:15 p.m. ET39 minutes ago
39 minutes ago
Top health officials urge Americans to get vaccinated but barely address the J.&J. dose pause.
The Covax initiative seeks $2 billion to lock up vaccine in advance for lower-income countries.
France reports its 100,000th Covid-19 death as nationwide restrictions stretch on.
Still, after nearly seven weeks of illness, Mr. Lotito had no antibodies to show for it. “I still have to take the same precautions that I was taking, you know, a year ago,” he said. “It’s a little disheartening.”
People like Mr. Lotito depend on those around them choosing to be vaccinated to keep the virus at bay, Dr. Cunningham-Rundles said.
“You’re hoping that your entire family members and all your close colleagues are going to go out and get some shot, and they’re going to be protecting you with herd immunity,” she said. “That’s what you have to start with.”
Dr. Cunningham-Rundles has tested her patients for antibodies and signed a few up for Regeneron’s monoclonal antibody cocktail. But many other people with such conditions are not aware of their risks or their options for treatment.
The Leukemia and Lymphoma Society has set up a registry to provide information and antibody tests to people with blood cancers. And several studies are assessing the response to coronavirus vaccines in people with cancer, autoimmune conditions like lupus or rheumatoid arthritis, or who take drugs that mute the immune response.
What You Need to Know About the Johnson & Johnson Vaccine Pause in the U.S.
On April 13, 2021, U.S. health agencies called for an immediate pause in the use of Johnson & Johnson’s single-dose Covid-19 vaccine after six recipients in the United States developed a rare disorder involving blood clots within one to three weeks of vaccination.
All 50 states, Washington, D.C. and Puerto Rico temporarily halted or recommended providers pause the use of the vaccine. The U.S. military, federally run vaccination sites and a host of private companies, including CVS, Walgreens, Rite Aid, Walmart and Publix, also paused the injections.
Fewer than one in a million Johnson & Johnson vaccinations are now under investigation. If there is indeed a risk of blood clots from the vaccine — which has yet to be determined — that risk is extremely low. The risk of getting Covid-19 in the United States is far higher.
The pause could complicate the nation’s vaccination efforts at a time when many states are confronting a surge in new cases and seeking to address vaccine hesitancy.
Johnson & Johnson has also decided to delay the rollout of its vaccine in Europe amid concerns over rare blood clots, dealing another blow to Europe’s inoculation push. South Africa, devastated by a more contagious virus variant that emerged there, suspended use of the vaccine as well. Australia announced it would not purchase any doses.
In one such study, British researchers followed nearly 7,000 people with Crohn’s disease or ulcerative colitis from 90 hospitals in the country. They found that less than half of patients who took Remicade mounted an immune response following coronavirus infection.
In a follow-up, the scientists found that 34 percent of people taking the drug were protected after a single dose of the Pfizer vaccine and only 27 percent after a single dose of the AstraZeneca vaccine. (In Britain, the current practice is to delay second doses to stretch vaccine availability.)
Likewise, another study published last month indicated that fewer than 15 percent of patients with cancers of blood or the immune system, and fewer than 40 percent of those with solid tumors, produced antibodies after receiving a single dose of the Pfizer-BioNTech vaccine.
And a study published last month in the journal JAMA reported that only 17 percent of 436 transplant recipients who got one dose of the Pfizer-BioNTech or Moderna vaccine had detectable antibodies three weeks later.
Despite the low odds, immunocompromised people should still get the vaccines because they may produce some immune cells that are protective, even antibodies in a subset of patients.
“These patients should probably be prioritized for optimally timed two doses,” said Dr. Tariq Ahmad, a gastroenterologist at the Royal Devon and Exeter NHS Foundation Trust who was involved in the infliximab studies.
He suggested that clinicians routinely measure antibody responses in immunocompromised people even after two vaccine doses, so as to identify those who also may need monoclonal antibodies to prevent infection or a third dose of the vaccines.
Wendy Halperin, 54, was diagnosed at age 28 with a condition called common variable immunodeficiency. She was hospitalized with Covid-19 in January and remained there for 15 days. But the coronavirus induced unusual symptoms.
“I was having trouble walking,” she recalled. “I just lost control of my limbs, like I couldn’t walk down the street.”
Because she was treated for Covid-19 with convalescent plasma, Ms. Halperin has had to wait three months to be immunized and has made an appointment for April 26. But despite her condition, her body did manage to produce some antibodies to the initial infection.
“The take home message is that everybody should try and get the vaccine,” said Dr. Amit Verma, an oncologist at Montefiore Medical Center.
The gamble did not pay off in Dr. Wollowitz’s case. Without antibodies in his system to protect him, he is still working from home — a privilege he is grateful for. He was an avid mountain biker and advanced skier, both of which carry risk of injury, but with the coronavirus, he is playing it safe.
In anticipation of returning to his normal lifestyle, Dr. Wollowitz is tuning his bicycles. But he said he foresaw himself living this way till enough other people are vaccinated and the number of infections in the city drops.
“I’m not exactly sure what that date is,” he said. “I’m really waiting to get back out.”
April 15, 2021, 2:20 PM EDT
Stock fell as much as 8.3% to $10.78 in New York Thursday
Peer Lordstown Motors falls below $10 level SPAC debuted at
The stock declined as much as 8.3% to $10.78 in New York trading Thursday amid a broader slump in EV stocks. That’s the lowest in a year and approaching the $10 level at which VectoIQ Acquisition Corp., the special-purpose acquisition company that acquired Nikola, debuted in June 2018.
Many private investors in Nikola -- including Fidelity, P. Schoenfeld Asset Management LP and ValueAct -- bought into the company at the $10-a-share price before it went public in a so-called private investment in public equity, or PIPE. That means those investors, if they still hold their original shares, aren’t far from falling into the red.
It marks a significant comedown for the once-high-flying stock, which climbed above $90 a share in June and temporarily vaulted Nikola’s market capitalization above that of 117-year-old rival Ford Motor Co.
Nikola representatives didn’t immediately respond to a request for comment.
Nikola has been plagued by a string of negative headlines this year. In March, its strategic partner Hanwha Group signaled an intention to liquidate half of its holdings, and in February, Nikola lowered the projected output of its first commercial zero-emission vehicles and said it might seek to raise more capital. This followed an internal probe that found it made several inaccurate statements.
Jax Cohen
mom
CJ Kilbride
She's busy
DropKick2020
Yo
san marino
pog
XPro
sup ppl
CJ Kilbride
Ayy
Raven Heart
had he spoke yet
Romulus
no.
XPro
no
Andre Lopez
biden is a clown
hannah smith
naw its coming up
dadab0y
Wow pbs left the comment section on...”look it’s yamiche must be racist !
Chris B
Hey all
CJ Kilbride
Nah it's coming. 2000 EST
Xtina Chavez
Where’s my refund?
Jason Fajardo
what time?
Raven Heart
thank you
Nathan Powell
This crazy
Peter Rasmussen
Can he speak? is the real question..
Liza Brice
heyyy
Cesar Salgado Jr
Regardless of what yall think of him...hes doing a pretty darn job man....this coming from a trump supporter....
Welcome to live chat! Remember to guard your privacy and abide by our community guidelines.
Nathan Powell
Anyone have his book?
Pizza Sounds
Peter lmao
Kyle Silver
Uhh PBS you may want to disable this chat before more people realize it’s open...
Josh Castillo
jeez, why would they leave the chat on...
W Thomas
not proven safe
Andre Lopez
will someone ask him a non vetted question? actually pressure him or will he read off of the teleprompter
dadab0y
Where’s quid pro dementia Joe?
Three Lions Media
just put the lasagna in the microwave!
jeff marks
only 6k🤣🤣🤣🤣🤣🤣
John Vranas
Wasn’t Trump already doing this
Romulus
andre, you're clueless.
CJ Kilbride
PBS smooth brain moment
Medicated Trader from the Howard Stern Show
I'm not taking this version of the vaccine
Slow mode is on
Send a message every 5 minutes
MyNameAZeus
hi
Magnum Opus
he is not lucid
joe clancy
Based a chat
VeganLife
Boooooooo
Trap-Ace 2.0
yes
PBS NewsHour
Good evening PBS NewsHour viewers!
Joseph Wheeler
Hi
ThermalSpace
telepromptor again
Erica Sikorski
already bored
NessKwik MD
Pog
PBS NewsHour
Thank you for joining us today as we livestream President Joe Biden’s first primetime address to the nation since taking office.
Lil Clace
where's my money at joe
Conor Hall
still reading off monitor?
PBS NewsHour
Biden will be delivering remarks to mark a year since the start of the COVID-19 pandemic that has killed nearly 530,000 Americans and more than 2.6 million people worldwide.
Long Tran
My president
sean murphy
@ThermalSpace at least he can read
Mary Pierce
Good light
Chris Schroeder
I'll bet a hundred he screws this speech up!
Mark Spicolli
pre-recorded.. this is elder abuse..
SNAKE
Good evening PBS Newshour!
Cassandra Pagan
They can stick my dead body
Jeri Ballard
Reading off a monitor and slow mode , what a joke
Marcos Garcia
thank mr b
1NoneofYourBusiness1
TRUMP IS STILL MY PRESIDENT! jk I'm not a moron lol
Mike
Holy teleprompter barnan
TheDrDirtbag
Look at my president ❤
Terry Wang
almost every presidential speech uses a teleprompter
PBS NewsHour
The address comes a day after a Congress divided along party lines approved a landmark $1.9 trillion COVID-19 relief bill, ...
David Bramlett
MAGA Forever
Queensyndr Yo
lol is this really live?
Behrooz Yoosefi
👌🏻👌🏻
Jennifer F
well rehearsed 😂
Ali Jarrah
Thank you, Mr. President
PBS NewsHour
... marshalling the government’s spending might against health and economic crises that have upended a nation:
PBS NewsHour
https://www.pbs.org/newshour/economy/...
RR1210
lol
Chris R
Eww.
CEO Ice
Doing well Biden, keep fighting and working with congress difficult azz
TheLegend 27
This is prerecorded and edited. No way it’s live.
Scott
literally every president uses them, not almost
jorge shadah
Great job sir
Sheri Wedmore
Not the real Biden and not the President.
Anne Valeron
Mahalo President Biden!
Connecticut State Guard.
How’s everyone’s day going?
Aggressive Spinner
it's cgi ffs omg 😲
Aaron Kernohan
This is not our president
donna desimone
Here is goes again, let me bring out the tissues. He's horrible.
TheElectricBallroom
Baba Booey!!!
PBS NewsHour
Biden signed the bill into law earlier today: https://www.pbs.org/newshour/politics...
Phoenixgryp
We need Trump back asap
dewayne stripling
lier
DazzlingDylan22
y'all need help
David Smith
What a piece of crap this guy is.
Frank Dewit
covid wasnt met with silence it was pure chaos
DooDooBear
it is just too obvious he is reading a teleprompter
Kyle Odland
TOOL!!!!!
George Robson
Maga is yesterday
Albert Ducharme
Is that the lights from US cities burning?
Infinite Justice
God Bless America !
teddy ruxspin
This guy is a joke
Michael Louis
Every President but lying trump read off teleprompter. As do ministers in churches
gayle mc
this is my president.
polyopoly
so many Trump people coping in this chat
Nicholas Wolfson
Biden is great
Anthony A
trump was bad too
George Mccaige
Joe what are you on about ? Oh no not the card
Danielle Burnett
Hey Jim take off the mask the world is watching
shoktar
Sadge
Razvan Dumitrescu
OCUGEN MENTION IT
Oscar Rohena
Thank you Biden
Ed Denoy
At 78 most of you will be crapping your diapers
Andrew Hamell
Disappointed to see a live chat.
Myna Byrd
Love him. A real man
Lissa Wick
Have some respect.
Louis Lisio
A talking skeleton
Rochelle larue
Omg
Twitter permanently suspends President Donald Trump
"After close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to the risk of further incitement of violence," Twitter's official "Safety" account tweeted.
President Donald Trump arrives to speak at the "Operation Warp Speed Vaccine Summit" on the White House complex, on Dec. 8, 2020.Evan Vucci / AP
By Ben Collins and Brandy Zadrozny
Twitter permanently suspended President Donald Trump’s account on Friday, citing “the risk of further incitement of violence.”
The president’s account, with 88 million followers, was initially banned for 12 hours on Jan. 6 due to “severe violations of our Civic Integrity policy,” after he used the platform to tweet condemnation against Vice President Mike Pence as his supporters stormed the Capitol.
“After close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to the risk of further incitement of violence,” the company said in a tweet.
The company banned the president’s account after years of public pressure and several attempts to limit the reach of his account in recent days. Hundreds of Twitter employees signed a letter urging Twitter CEO Jack Dorsey to ban the president for using the platform to incite violence in the wake of the Capitol siege.
“In the context of horrific events this week, we made it clear on Wednesday that additional violations of the Twitter Rules would potentially result in this very course of action,” Twitter said in a blog post. “Our public interest framework exists to enable the public to hear from elected officials and world leaders directly. It is built on a principle that the people have a right to hold power to account in the open.”
“However, we made it clear going back years that these accounts are not above our rules and cannot use Twitter to incite violence,” the post continued. “We will continue to be transparent around our policies and their enforcement.”
This was the second time in a week Twitter had taken action against the president’s account. Twitter removed three tweets that promoted conspiracy theories about the election and locked Trump’s account on Wednesday, citing “a risk of violence,” after a violent riot at the Capitol. Trump’s official @POTUS account is still active.
In the post, the company cited Trump’s two most recent tweets as an explanation for the removal.
In one, Trump wrote: “The 75,000,000 great American Patriots who voted for me, AMERICA FIRST, and MAKE AMERICA GREAT AGAIN, will have a GIANT VOICE long into the future. They will not be disrespected or treated unfairly in any way, shape or form!!!”
In the next, he tweeted, “To all of those who have asked, I will not be going to the Inauguration on January 20th.”
Taken together, the company determined, they were “likely to inspire others to replicate the violent acts that took place on January 6, 2021, and that there are multiple indicators that they are being received and understood as encouragement to do so.”
The suspension drew immediate praise from Democratic politicians.
"Thank you @twitter for taking this action," tweeted Sen. Joe Manchin, D-W.V. "We must come together as a country to heal and find a common path forward."
Sen. Mark Warner, D-Va., tweeted: "An overdue step. But it’s important to remember, this is much bigger than one person. It’s about an entire ecosystem that allows misinformation and hate to spread and fester unchecked."
Republican politicians and Trump loyalists pushed back on the decision.
"Disgusting. Big Tech wants to cancel all 75M @realDonaldTrump supporters," tweeted Jason Miller, a senior advisor to Trump's 2020 campaign.
Trump was an early adopter of Twitter, joining the platform in 2009. He has long favored Twitter as a means of communicating his policies and opinions and grievances directly to supporters while circumventing the traditional media.
But after his election in 2016, Trump told 60 Minutes correspondent Lesley Stahl, that as president he would use the platform differently.
"I'm going to do very restrained, if I use it at all, I'm going to do very restrained," Trump said. "I find it tremendous. It's a modern form of communication."
This story is developing. Please check back for updates.
Ben Collins
Ben Collins covers disinformation, extremism and the internet for NBC News.
Brandy Zadrozny
Brandy Zadrozny is an investigative reporter for NBC News.
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