Kylie Jenner’s Tweet Really Didn’t Help Snap’s Stock Value

Snapchat’s parent company, Snap Inc., had a 6.1 percent drop in shares and lost $1.3 billion in market value on Thursday. This happened after a tweet from Kylie Jenner was posted Thursday afternoon.

Jenner expressed her opinion of Snapchat on Twitter by saying, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.” Snapchat was redesigned earlier this month, giving the app an entirely different look. Perhaps this new update is the reason for Jenner’s apparent Snapchat boycott.

sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.

— Kylie Jenner (@KylieJenner) February 21, 2018

Earlier this week, Citigroup analysts even downgraded Snap Inc.’s stock from “Neutral” to “Sell” after a flood of negative reviews following the automatic update to the app on users’ phones.

Jenner tweeted again soon after her initial post. She says she still loves Snapchat, even calling it her “first love.”

still love you tho snap … my first love

— Kylie Jenner (@KylieJenner) February 21, 2018