Snapchat loses $ 1.5 billion in the stock market for a tweet from Kylie Jenner
Kylie Jenner, one of the sisters of the reality show Keeping Up with the Kardashians, tweeted about how often she opened her Snapchat account and the result affected Snap’s business.
She tweeted that she no longer opens her Snapchat app and then later, Snapchat’s stock plummeted.
It would not have been so bad if Kylie Jenner was not one of the most influential users of the social network Her tweets came at the worst moments for Snapchat, a time when millions of faithful users were unhappy with the app’s design (which seeks to attract new users).
By noon, Snap had lost $ 1.5 billion in the stock market, according to Reuters. An impressive setback for a tweet, which once again demonstrates the true power of influencers.
Can Snap save the game? Apart from Kylie Jenner’s tweets, complaints about the new design and the results of poor management , the company also has to deal with the fierce competition from Instagram, which has basically copied all of Snapchat’s original ideas.