With One Single Tweet, Chrissy Teigen Causes Snapchat To Lose $100M

Back in February, Kylie Jenner took it to Twitter to ask her fans if anyone used Snapchat anymore:

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

This led Snapchat’s stock to plummet the following day ($1.5 Billion).

Now, Chrissy Teigen is letting everyone know that she is also over the platform.

Just an FYI, when a company receives negative feedback from someone who is considered high-profiled and also holds a vast following, the economic blowback for the company can be huge, according to financial expert and founder/managing director of Keystone Wealth Partners, John Hagensen.

Hagensen tells Marie Claire:

“‘Influencers,’ as they are often referred to, drive much of the growth of social media platforms, and this is directly why their endorsements, or lack thereof, significantly impact stock prices.”

On Saturday, Tiegen tweeted to her 10 million followers that she was fed up with the messaging app not only because of the latest redesign but also because of the insensitive ad about Rihanna.

Following the tweet, on Monday, Snap shares opened up 0.6%, at $16.44 per share, but quickly fell as much as 1.5% soon after.

Hagensen then notes that the stock went down as much as 2.8%, but at the end of the day, ended down only .7%, which equates to just about $100 million.

Oh, and the Rihanna poll Teigen was referring to?

That was an ad the platform ran in early March, which posed the question “Would you rather slap Rihanna or punch Chris Brown?”

The ad/pool seemed to poke fun at the former couple’s domestic violence incident which occurred back in February 2009.

Rihanna then called out Snapchat herself which then, according to Reuters, led the company’s shares to fall 5%.

Fashion Ambitions participates in various affiliate marketing programs, which means Fashion Ambitions gets paid commissions on purchases made through our links to retailer sites.

For general inquiries, contact us at contact@fashionambition.com.

©2019 Fashion Ambitions Media, Inc. All Rights Reserved.

Scroll To Top