Kylie Jenner tweet sends Snapchat share price tumbling

Snapchat responds to users critical of redesign'We hear you

Snap shares tumbled 6 percent on Thursday, eliminating $1.3 billion in market capitalization. Additionally, a hoax tweet saying the company would switch back to the original layout if enough people retweeted it has been retweeted nearly 1.5M times.

As Techcrunch explains, a celebrity social media influencer appears to have joined the chorus, and that may have had a direct effect on the company's stock price yesterday.

Snap Inc. shares have dropped by 12 percent this week, now floating around $17.

Snap's Jenner snafu is actually an important lesson for anyone investing in the stock market.

The thing is, the way Kylie Jenner's opinion of the latest changes on Snapchat is being portrayed isn't really fair to her. Kylie used Snapchat faithfully for a very long time.

Then, just as abruptly as she disappeared, Jenner re-emerged out of her social media cocoon like the silk-pajama-clad butterfly she is, with a newborn daughter in hand.

As reported by CNBC based on last Friday's close, the Citi analysts' new price target of $14 would mean at least another 30% drop. In Snap's case, it has 661,834,416 shares outstanding, according to the Nasdaq.

The shares plunged by 17% in August, after disappointing results.

The evidence isn't all there, though - while Jenner boasts a combined 128.5 million Twitter and Instagram followers, there's no saying for sure whether she was the exclusive catalyst to the stock drop. Because what is the point of an update, if people are not even opening the application anymore?

The Kardashian-Jenner brand isn't just strong in reality television.

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The company has also created its own privacy and search tools to help users find Snaps and store them securely.

Later on in the day, the new mom posted another message reading "still love you tho first love", perhaps understanding the huge power of her words.

A petition on has already been signed by 1.2 million people calling for Snap change the app back to how it functioned before the new 2018 update.

Jeremy Quittner is the financial writer for Stash.

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