After a disappointing rollout of a new format, the social media app Snapchat has been the target of much criticism. Now, a single tweet by the self-proclaimed "Queen of Snapchat" has reportedly resulted in the devaluation of the app.
On Thursday, Kylie Jenner tweeted about never opening Snapchat, and the company's stock fell, resulting in a loss of $1.3 billion in market value.
In addition to the growing number of unsatisfied users, Citigroup analyst Mark May downgraded Snapchat's stock to "sell" from "neutral" earlier this week after seeing a “significant jump” in negative reviews of the upgrade.
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