Twitter stock surges on Donald Trump victory

Republican Donald Trump is now the president-elect in what’s being called the biggest upset in American political history.

Stock markets are rallying on Wednesday after futures plunged on Tuesday night.

Several sectors are gaining, including drug stocks and private prison stocks.

Big tech company stocks are mostly down, though. Apple, Amazon, and Facebook were all down over 1% in midday trading on Wednesday. Google and Microsoft were slightly down as well at the time of writing.

One tech stock having a big Wednesday? Twitter, which was up more than 3%, at $19.02 per share, on Wednesday.

Twitter said that more than 75 million tweets were sent through 3 a.m. ET Wednesday morning, according to USA Today, breaking the record set on 2012 Election Day of 31 million tweets.

Twitter’s surge is also notable because during Trump’s presidential campaign, he has used his Twitter account as a megaphone, often sharing news for the first time through a tweet.

Trump’s Twitter account is the medium in which picked fights with figures like Alicia Machado, a former Miss Universe. It is also where he promoted incorrect theories that President Barack Obama was not born in the United States.

But despite the fact that Twitter was a core part of the debate around the American presidential election, it is still a troubled company because of sluggish revenue and user growth.

The company has also faced criticism that its lack of moderation tools and anti-abuse features has allowed Trump supporters to harass public figures on the social network, which reportedly was why Salesforce and other suitors decided not to bid for the company.

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