NEW YORK • When Kylie Jenner talks, even Wall Street snaps to consideration, it appears.
Shares of Snap, dad or mum company of messaging app Snapchat, sank 6.1 per cent on Thursday, wiping out US$1.three billion (S$1.7 billion) in market worth after Jenner, 20, tweeted the day earlier than that she doesn’t use the app anymore.
She posted: “Sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”
Whether it’s the calls for of her newfound motherhood or the app’s latest redesign, the testomony drew comparable replies from her 24.5 million followers.
Jenner’s tweet was adopted late on Thursday by one from Maybelline New York, asking its followers if it ought to keep on the Snapchat platform.
The beauty-product model owned by Paris-based L’Oreal mentioned its “Snapchat views have dropped dramatically”, however it nonetheless wished to attach with its followers.
Citigroup analyst Mark May downgraded the Snap stock to promote from impartial earlier this week after seeing a “significant jump” in detrimental evaluations of the app’s redesign.
Meanwhile, a petition on Change.org calling on Snapchat to abort the redesign has gathered greater than 1.2 million signatures, signalling that people are usually not fairly prepared to leap ship simply but.
And Snap did get some wiggle room when Jenner later posted: “Still love you tho snap… my first love.”