Snap chat lost almost 7% share value on Thursday closing markets after Kylie Jenner tweeted that she does not use the platform as much anymore. The share plunge wiped about $1.3 billion off the company’s market value.
The problem started when snap chat redesigned the social media app, users did not like the new design and criticized the app’s new layout for being too confusing to navigate.
Kylie Jenner is the undisputed queen of Snap chat. She has the highest number of followers on the platform – 25 million followers.
When she added her voice, the platform trembled and stock markets shook . they should have consulted their Oracle ( top user Kylie) before making sweeping changes ( its called consumer insight)
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
Any ways, Wall Street is calling the share plunge an overreaction that may bounce back.
Snap chat management has responded to the backlash-“We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snap chat has felt uncomfortable for many,”
Snap chat has promised to fix the redesign issue; “Beginning soon on iOS, and with Android in the coming weeks, we are introducing tabs in Friends and Discover, which will make it easier to find the Stories that you want, when you want them.
“Once you receive the update, you’ll be able to sort things like Stories, Group Chats, and Subscriptions, allowing you to further customize your own experience on the app.”
To cut the tech story short, the issues are being fixed. Please let us know if your tweets can move stock markets, we would gladly receive your comments