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

Sooo does anyone else not open Snapchat anymore?

Brooklyn Riepma

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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.

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.”

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Brooklyn Riepma is a Boise-based journalist and student. She is a junior at The College of Idaho majoring in Political Economy with minors in Creative writing, Natural Sciences, and Journalism.

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