Kylie Jenner's Tweet About Snapchat Made Their Stock Plummet
Kylie Jenner’s Tweet About Not Using Snapchat Singlehandedly Made Their Stock Plummet
Source: David Livingston / Getty
It’s common knowledge that pretty much everybody hates Snapchat’s latest update, and since it dropped, people who loved the app have been completely stepping back in their usage of the popular social media platform.
One of the platforms hugest advocates has always been Kylie Jenner. She got so much attention on the app, her playing certain artists’ songs would give their career or specific song a huge boost. Obviously, Ms. Jenner has been MIA the past couple of months due to her formerly secret pregnancy, so her Snapchat presence was already super low. Now, even after returning to her other social media pages, Kylie tweeted about her once super frequent that’s sort of vanished from her life.
Though she didn’t say it was because of the update, Jenner tweeted out that she just doesn’t even open the app anymore, and says how sad it is. She was obviously a humungous figure on the app, and as it turns out, her announcing that she doesn’t use it anymore is enough for Snapchat’s stock to drop.
On Wednesday, at 1:30PM ET, Snap’s stock was at $19.02, on an upturn since it’s drop following the recent formatting changes. Then, at 4:50PM, Kylie tweeted asking if anyone else had stopped using Snapchat. Snap’s stock immediately began to fall, and it has continued to drop by over 6 percent through today. That adds up to a roughly $1.5 billion loss in market value for the app, according to Reuters.
So there you have it, Kylie Jenner could have singlehandedly ruined Snapchat. Pretty insane.
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Kylie Jenner’s Tweet About Not Using Snapchat Singlehandedly Made Their Stock Plummet was originally published on globalgrind.com