Kylie Jenner Crushes Snapchat Stock With Tweet
Posted on February 22, 2018
Kylie Jenner has not been using the Snapchat as much lately and she shared the news with her Twitter followers. Kylie wrote, "sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad."
The news did not sit well with investors. A dramatic Bloomberg headline reads, "In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap's Market Value." Shares of the parent company, Snap, plunged over 7% today. Kylie has over 24 million followers on Twitter. She is an influential young celebrity so if she stops using a social media product that is significant.
sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad.— Kylie Jenner (@KylieJenner) February 21, 2018
Even more significant for the video chat app provider is that many of Kylie's followers seemed to agree with her. Others are clamoring for the "old snap." Bloomberg notes that Wall Street analysts have also noticed a decrease in use engagement since the app's latest redesign.
Kylie later tweeted, "still love you tho snap ... my first love," but the initial damage was done. Snapchat may have to lure Kylie back or find other young influencers. Kylie is pictured above promoting her Red Velvet Holiday Lip Kit in an Instagram photograph.