Kylie Jenner’s Tweet Drops Snapchat’s Market Value By $1.7 Billion

Snapchat suffered a huge loss on the stock market after Kylie Jenner, 20, shared a tweet about the social media platform.

The “Keeping Up With the Kardashians” star – who recently returned to social media following the birth of her daughter Stormi – shared a tweet to her 24.5 million followers this week asking if they still use Snapchat.

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“Sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,” the new mom tweeted on Wednesday.

Following this one tweet made by Jenner, Snapchat lost as much as 8 per cent in trading which is equivalent to $1.7 billion in the market value.

Snapchat has recently changed up their app with a new update which makes it more difficult to stay updated with people’s stories and seems to be having a negative impact on app users, including Jenner.

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There’s even a petition circulating from change.org that has received over 1.2 million signatures to bring back the old Snapchat.

The new Snapchat has been getting a lot of negative responses including one from Citigroup’s Mark May who wrote: “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.”

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And while Jenner is using Instagram and Twitter frequently after her pregnancy hiatus, she isn’t posting to Snapchat very often.

But the reality star did end up tweeting that she still has some love for the app.

“Still love you tho snap… my first love,” she tweeted.

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