A single tweet by Rihanna slamming an offensive Snapchat has caused an $800m slide in the stock (SNAP).
Snapchat tumbled over $1.20 per share on the Rihanna tweet. However, the company is valued at over $20 billion.
The offensive was for an App called ‘Would You Rather?’ that gave users the choice of slapping Rihanna or punching Chris Brown. Brown was found guilty of assaulting Rihanna in 2009.
“Now SNAPCHAT I know you already know you ain’t my fav app out there! But I’m just trying to figure out what the point was with this mess!” she wrote. “I’d love to call it ignorance but I know you ain’t that dumb. You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it.”
Snapchat stop went into freefall three weeks ago when Kylie Jenner tweeted that she no longer uses the App. That news took $1.3 billion off the market cap.
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