Tuesday, February 27, 2018

How to Lose a Billion Bucks . . .

That isn't even yours: In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap’s Market Value. The bubble wasn't all in her butt.
Snap Inc.’s flagship platform has lost some luster, at least according to one social-media influencer in the Kardashian-Jenner clan.

Shares of the Snapchat parent company sank 6.1 percent on Thursday, wiping out $1.3 billion in market value, on the heels of a tweet on Wednesday 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.

It's amazing that someone so young and inconsequential can cause such mammoth market movement with a single tweet. I can't blame her, though, a girl has to use what she's been given. And she's been given a lot.

Wombat-socho has "Rule 5 Sunday: Larger Than Life" up and running on time and within budget at The Other McCain.

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