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As crazy as it sounds, Kylie Jenner apparently caused Snapchat to lose a whopping $1.5 billion after she tweeted that she doesn’t use the popular app anymore.
This just proves that the Kardashians-Jenners are a force to be reckoned with in social media! Last Wednesday, Kylie apparently posted a tweet asking her followers: “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”
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The very next day, just like that – the Snapchat’s stock plummeted drastically. Now you may think her tweet had nothing to do with Snapchat, but then you have to remember that she is one of Snapchat’s most influential users and on top of that – she has over 24 million Twitter followers so it’s safe to say that millions of people would’ve seen her tweet.
The Verge further made the connection between Kylie’s tweet and Snapchat’s stock because the timing suggests that as of 1:30 PM ET on Wednesday, Snapchat’s stock was sitting at $19.02 but then come 4:50 PM ET when Kylie sent the tweet – the stock immediately began to drop like flies. It had dropped by close to 8 percent at the time of writing, which as per Reuters – is equivalent to roughly a $1.5 billion loss in market value.
Jenner later tried to make up for her original Tweet by saying “still love you tho snap … my first love,” but it looks like the damage may have already been done.