Kylie Jenner is potentially responsible for Snap losing $1.5 billion in market value
![Kylie Jenner.](https://cdn.mos.cms.futurecdn.net/mUtFbfDpkJmtxTfgXAWubG-415-80.jpg)
Not everyone could cause Snap to lose $1.5 billion in market value with a single tweet, but then again, not everyone is Kylie Jenner. The 20-year-old's declaration Wednesday that she does not open Snapchat anymore potentially caused a slide Thursday that found shares tumbling more than 7 percent, ZeroHedge reports, effectively erasing "most" of the social media company's "post-earnings climb."
Snapchat infuriated users with an update earlier this month, which prompted more than a million people to sign a petition called "Remove the new Snapchat update."
"While the recent redesign of [Snap's] flagship app could produce positive long-term benefits, [there is a] significant jump in negative app reviews since the redesign was pushed out a few weeks ago, which could result in a decline in users and user engagement, and could negatively impact financial results," Citigroup analysts Mark May and Hao Yan wrote, as reported by Markets Insider.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
Red Speedo: a 'darkly comic' doping drama
The Week Recommends Lucas Hnath's play stars Finn Cole as a 'reptilian' swimmer determined to win at all costs
By Irenie Forshaw, The Week UK Published
-
One Aldwych: where London's creative spirit takes centre stage
The Week Recommends This five-star Covent Garden hotel is the epitome of elegant independence
By Julia O'Driscoll, The Week UK Published
-
Charlotte Dujardin and equestrianism's dark side
In the Spotlight Olympic gold medallist and dressage star's suspension over horse whipping brings abuse in horse sports back into the spotlight
By Harriet Marsden, The Week UK Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published