A Tweet from Kylie Jenner Sent Snapchat’s Stock Plummeting

Posted by February 22, 2018 Comment

Kylie Jenner
Editorial credit: Joe Seer / Shutterstock.com

It’s easy to forget sometimes that reality TV stars and social media go hand-in-hand, and one tweet can really make a difference. Kylie Jenner sent out a Tweet yesterday referencing the fact she doesn’t really use Snapchat anymore. This is likely because of the app’s recent design change that forces more paid advertising messages into users’ feed. There has been a lot of complaints about it on social media for the last few weeks. But when Jenner posted the below message, it really had an effect.

After the post, Snap’s stock dropped 7% — which may not sound like much, but it’s the equivalent of $1 billion in market value. The tweet received almost a quarter million likes. Jenner has 24.5 million followers. This, combined with an online petition against the new update that has garnered 1.2 million signatures, is believed to have factored into the sudden selloff by Wall Street. Citigroup marked the stock as a “sell” because of the concerns.

Source: Deadline

(Last Updated February 22, 2018 3:35 pm )

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About Dan Wickline

Has quietly been working at Bleeding Cool for over three years. He has written comics for Image, Top Cow, Shadowline, Avatar, IDW, Dynamite, Moonstone, Humanoids and Zenescope. He is the author of the Lucius Fogg series of novels and a published photographer.

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