Donald Trump casually tweets about U.S. businesses, and the power of the president’s tweets can move the Stock Market up or down. The president has been wielding his twitter power in an even more unfortunate use of the social media, to place his hand on the scales of cable television and internet cable companies.
His latest tweet quotes a Fox Business Network employee, Charlie Gasparino, without any fact checking
‘American Cable Association has big problems with Comcast. They say that Comcast routinely violates Antitrust Laws. “These guys are acting much worse, and have much more potential for damage to consumers, than anything AT&T-Time Warner would do.” Charlie Gasparino’
Comcast shares dropped one percent immediately after the president claimed the company violated antitrust laws. The commander-in-chief’s tweet followed the American Cable Association’s (ACA) request that the Department of Justice (DOJ) investigate the cable company.
The ACA believed Comcast unfairly raises its prices due to its “significant must-have local programming,” according to CNBC. Comcast released a statement that read:
‘We believe that ACA’s letter is without merit and constitutes an inappropriate attempt to gain leverage in the commercial marketplace.’
This was not the first time Trump tweeted about anti-trust issues. It appears that the laws regulating user intent on the internet have not caught up with the users, especially those in power. The president’s tweets reach 55.6 million potential readers, so they are extremely powerful.
Twitter world went nuts over the president’s tweet. Check out some of our favorites below:
Featured image is a screenshot via YouTube.