Did Kylie Jenner’s Tweet Cost Snapchat $1.3 Billion?

If you were looking for evidence that the Kardashian empire is actually a global panopticon capable of shaping the fate of the world with the push of a "post” button, one tweet from Kylie Jenner looks like it just cost Snapchat $1.3 billion. Just a few weeks after breaking Instagram records with her surprise baby announcement, Jenner is at it again, this time voicing consumer frustration (or new mom blues) that turned into, of course, market panic. "Sooo does anyone else not open Snapchat anymore? Or is it just me . . . ugh this is so sad,” she wrote on Wednesday. Shortly after, shares in Snapchat parent company Snap fell as much as 8.5 percent, with the SNAP stock closing down by a harrowing 6 percent at the end of Thursday.

Kylie Jenner

sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad.
2:50 PM - Feb 21, 2018


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Though Jenner followed up with another tweet about her affections for the platform, calling Snapchat "my first love” (and heralding a generation of young Americans who romanticize apps rather than other humans, but that’s neither here nor there), it wasn’t enough to save Snap from the stock plummet. The company has already been under fire for its recent redesign, which prompted a Change.org petition with more than 1.2 million signatures.
Meanwhile, Snap skeptics made $163 million from Kylie’s shade, The Big Short–style, profiting from their bets against the company. TMZ tried to ambush Kanye West and Kourtney Kardashian after they went to see Black Panther together in Calabasas, but they had no comment on whether Jenner is the new de facto head of the New York Stock Exchange.
Source : www.vogue.com

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