Did Kylie Jenner Cause Snapchat To Lose $1.5 Billion?

On Wednesday, February 21, Kylie Jenner took it to Twitter to ask her followers:

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

And while the new Snapchat updates may not have been favorable, things got even sadder the following day as Snapchat’s stock plummeted.

Here’s what Snapchat’s stock performance looked like on Thursday, February 22:

And while there really isn’t a direct correlation, it is important to note that Kylie is one of Snapchat’s most popular and influential users.

Kylie also holds 24.5 million Twitter followers.

The Verge also notes that the timing of it all suggests that there’s a direct connection:

Wednesday at 1:30 PM EST – Snapchat stock sits at $19.02, which represented an upturn from the previous day.

Wednesday at 4:50 PM EST – Kylie tweets and the stock immediately began to fall.

Reuters notes that their stock dropped close to 8 percent roughly equates to a $1.5 billion loss in market value.



Sabrina Hewitt

Fashion, Beauty & News Contributor

I've always wanted to be the modern-day Carrie Bradshaw :) Fashion and beauty is something I'm obsessed with and my goal is deliver the latest trends within the industry, in a super conversational and digestible way.

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