Kylie Jenner's Tweet Brought Snapchat Stock Down


According to TMZ, on 21 February (the day Kylie tweeted) the social media platform was worth $516.83bn, rising to $519.97bn on the 22 and them bumping up to $532.86bn on the 23 February. Or is it just me... Kylie also shares a clothing line with her sister Kendall Jenner and has her own app which was downloaded 1.5 million times within five days of its launch in 2015.

However, mother to a newborn further wrote: "still love you tho first love".

This follows the apps recent update which has seen stories merged with recommended posts causing many users to delete the app in protest reportedly.

Kylie, who was the richest among the Kardashian sisters, posted a tweet on Wednesday, and by Thursday, the shares of the parent company Snapchat declined 6.1%, thereby reducing market value by $ 1.3 billion. Wall Street analysts too have begun to notice, citing recent user engagement trends noticed since the platform's redesign.

Citigroup analyst Mark May downgraded the stock to sell from neutral earlier this week after seeing a "significant jump" in negative reviews of the app's redesign. However, it added, "this new foundation is just the beginning and we will always listen closely to find new ways to make the service better for everyone". "Many "new features" are useless or defeat the original purposes Snapchat has had for the past years". "We are very excited for what's ahead". They're not your friend.' So for us, even some of the frustrations we're seeing really validate those changes.

"It'll take time for people to adjust, but for me, using it for a couple months, I feel way more attached to the service".