Between the time Matt Drudge went all-in on his opinion regarding Twitter, see this screenshot from business insider, and tonight, Twitter has lost over 5 billion dollars in market capitalization. That's in a period of time when the market was pretty stable. Up big yesterday and down fractionally today.
To me, the story is not as much about Twitter, as it is about Drudge's influence. I remember that when Michael Jordan came back after playing baseball for the Birmingham Barons, NYSE companies went up by a reported 1 Billion dollars. See his wikipedia page. That was a lot, but nothing compared to the 5 billion lost in the last 24 hours on no real news.
It goes back to a post I did earlier last week. Matt Drudge has huge economic clout. I said in that post he might be the best bookseller in America. Probably bigger than Oprah and he might even be able to give President Obama a run for his money. I'm sure the folks at Twitter dreaded being the lead story on the Drudge Report because Drudge giveth and Drudge can obviously taketh away.
To me, the story is not as much about Twitter, as it is about Drudge's influence. I remember that when Michael Jordan came back after playing baseball for the Birmingham Barons, NYSE companies went up by a reported 1 Billion dollars. See his wikipedia page. That was a lot, but nothing compared to the 5 billion lost in the last 24 hours on no real news.
It goes back to a post I did earlier last week. Matt Drudge has huge economic clout. I said in that post he might be the best bookseller in America. Probably bigger than Oprah and he might even be able to give President Obama a run for his money. I'm sure the folks at Twitter dreaded being the lead story on the Drudge Report because Drudge giveth and Drudge can obviously taketh away.
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