Kylie Jenner Tweet Causes Snapchat Stock To Nosedive

Joanna Estrada
February 23, 2018

However, their latest act ended up costing the popular image messaging application Sanpchat $1.3 billion.

Whether Jenner's snip at Snapchat was a factor in the stock drop is a subject of debate, but Bloomberg notes that Maybelline New York followed her tweet by asking its followers whether it should stay on the platform. As soon as her tweet appeared, her over 24.5 million followers largely appeared to agree with her in one unanimous voice and started posting similar replies. "Or is it just me... ugh this is so sad". Following her tweet, an instant drop of 6.1 percent was noted in the company's share.

Kylie Jenner tried to salvage the situation with some damage control and shared another tweet which read, "still love you tho snap ... my first love".

A recent redesign of the application's platform, which distinguished between conversations with friends and professionally produced content, had proven to be unpopular with many users. After a panicky date, Snapchat's share price closed near the $17 price. Despite that intense and occasionally high-profile criticism, Snapchat has committed not to reverse the redesign. The firm has had a loss of $348 million in the last three months. Kylie recently launched a new cosmetic collection which is inspired by her newborn with Travis Scott whom they named Stormi Webster.

Other reports by Click Lancashire

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