In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap's Market Value

www.bloomberg.com

This week in I Do Not Even Economy:

The Snapchat parent’s shares sank as much as 7.2 percent Thursday, wiping out $1.3 billion in market value, on the heels of a tweet from Kylie Jenner, who said she doesn’t open the app anymore. Whether it’s the demands of her newfound motherhood, or the recent app redesign, the testament drew similar replies from her 24.5 million followers. Wall Street analysts too, have begun to notice, citing recent user engagement trends noticed since the platform’s redesign.

Can you imagine that paragraph existing a decade ago?

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