February 23, 2018

Did Kylie Jenner Cause the Snapchat Stock to Drop?

Just like (almost) everyone else, Kylie Jenner is over Snapchat. Last Wednesday posted on Twitter, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”

The next day, Snapchat felt that sadness as their stock dropped significantly.

Photo courtesy of Harper’s Bazaar

According to Harper’s Bazaar, Kylie is Snapchat’s most influential user so although they can’t confirm it was the caused by her tweet, it definitely could be. The Verge also reported on the timing of everything. At 1:30 p.m. ET on Wednesday, the Snapchat stock was at $19.02. Kylie then posted her tweet at 4:05 p.m. ET, which is when the stock started to drop. It was also reported that the drop in their stock is estimated at around $1.5 billion in market value. Yikes!

So why isn’t Kylie a fan of Snapchat anymore? Well, it could be its new interface. They recently updated the app and Kylie shared that she wanted the old Snapchat back.

If you didn’t think Kylie was influential before, this situation should change your mind. Also, now that Kylie isn’t on Snapchat as much, should we expect more content on her Instagram Stories? We sure hope so.

[Harper’s Bazaar]


Photo courtesy of Kylie Jenner’s Instagram account

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culture, Culture News, Kylie Jenner, Snapchat, Stock, technology, Twitter

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