Former President Donald Trump has reacted to Meta Platforms Inc (NASDAQ:META) restoring his Facebook and Instagram accounts.
What Happened: Trump said on Truth Social — a platform owned by Trump Media & Technology Group, which is set to go public via a merger with Digital World Acquisition Corp (NASDAQ:DWAC) — "Facebook has lost Billions of Dollars in value since 'deplatforming' your favorite President, me, has just announced they are reinstating my account."
"Such a thing should never happen again to a sitting President, or anybody else who is not deserving of retribution!"
Trump thanked Truth Social, which he said was "doing such an incredible job." He said that the platform's growth is "outstanding" and its future "unlimited."
Why It Matters: Digital World's shares were volatile on Wednesday after Meta made the move.
Trump's account was suspended a day after his supporters rioted on the Capitol two years ago. The former president's account is set to become active in the coming weeks.
The former U.S. leader faces "heightened penalties" for repeat offenses, according to a blog post from Meta's President of Global Affairs Nick Clegg.
"In the event that Mr. Trump posts further violating content, the content will be removed and he will be suspended for between one month and two years, depending on the severity of the violation," said Clegg.
Price Action: On Wednesday, Meta shares closed 1.15% lower at $141.50, while Digital World shares ended the day 2.9% higher, according to Benzinga Pro data.
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