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Kylie Jenner’s tweet about Snapchat may have wiped $1.3bn off its stock value, Current Affairs | United States – Venice, Los Angeles, California, ‪Kylie Jenner

February 23, 2018 8:47 am Categorised in:

Kylie Jenner’s tweet about Snapchat may have wiped $1.3bn off its stock value, Snapchat, Snap Inc. 2-23-2018 | United States – Venice, Los Angeles, California
If you want proof of how powerful Kylie Jenner’s social media is, this is a pretty good indicator.
The new mum lamented the new Snapchat update on Twitter, telling her 24.5 million followers: ‘sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.’ And this message seems to have had a major effect on the company. According to CNN Money, Snapchat stock closed down 6% on Thursday following Kylie’s tweet, returning near the $17 price at which the shares were first listed when the company floated on the stock market. Current Affairs – Kylie Jenner has seriously affected the value of Snapchat
Snap – Snapchat’s parent company – stocks closed at $17.51 – representing a loss in value of $1.3 billion. Ouch. It may have been that the timing of the plunge and Kylie’s tweet were coincidental, as the stock was downgraded by Citigroup due to the app’s redesign alienating and annoying many of its users (including Kylie).
Citigroup’s Mark May said in a statement: ‘While the recent redesign of its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results.’
Snapchat is also under pressure from Instagram, which many people migrating to its Instagram Stories feature. But Kylie’s influence can’t be ignored.

Kylie Jenner’s tweet about Snapchat may have wiped $1.3bn off its stock value 2-23-2018 The new mum lamented the new Snapchat update on Twitter, telling her 24.5 million followers: ‘sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.’ And this message seems to have had a major effect on the company. According to CNN Money, Snapchat stock closed down 6% on Thursday following Kylie’s tweet, returning near the $17 price at which the shares were first listed when the company floated on the stock market.,Snap – Snapchat’s parent company – stocks closed at $17.51 – representing a loss in value of $1.3 billion. Ouch. It may have been that the timing of the plunge and Kylie’s tweet were coincidental, as the stock was downgraded by Citigroup due to the app’s redesign alienating and annoying many of its users (including Kylie)., Citigroup’s Mark May said in a statement: ‘While the recent redesign of its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results.’,If you want proof of how powerful Kylie Jenner’s social media is, this is a pretty good indicator., ‪Kylie Jenner, Snapchat, Snap Inc. ,Snapchat is also under pressure from Instagram, which many people migrating to its Instagram Stories feature. But Kylie’s influence can’t be ignored.,