Snapchat Stock Plummets Following Tweet From This One Celeb

Snapchat’s new design is making a lot people frustrated, including some the major users the platform. Yesterday, Kylie Jenner tweeted that she was no longer opening the app as ten as she’d used to – and if her influence is anything to be questioned, Snap’s stock was downgraded by Citi, and is down 8 percent today compared to yesterday.


Of course, there could be many factors leading to the fall in price, but Jenner has been one Snapchat’s biggest users since the app’s inception. Without influencers like her to bring new users to the app, it will only continue to bleed users thanks to the newest update.

“While the recent redesign its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results,” Citi’s Mark May wrote Tuesday.

Snapchat has come out publicly to say that it will not reverse the update, but it will add new features like to try and make navigation easier.

 

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