Shares of Snap Inc. (SNAP) plunged on Thursday after Kylie Jenner tweeted to her 24.5M followers that she no longer uses the app. The reality star tweeted: “sooo does anyone else not open Snapchat anymore? Or is it just me…” After her comments on Thursday, shares in the social media firm closed the day with a 6% fall.

Jenner’s tweet came after the social media company faced so much criticism over a new feature that altered the user interface on Snapchat.

The new change has prompted more than 1.2 million to sign a petition at Change.org calling on the company to take it out.

When the New York Stock Exchange opened on Thursday, shares of Snap Inc were trading at around $18.50, but by 3 pm they had plunged to just over $17. The shares later railed to $17.55.

SNAP Earnings & Outlook

Since going public last year, Snap Inc has reported better than earnings than Wall Street anticipated. After reporting its 2017 fourth-quarter earnings, the social media company prices surged, giving it the first good news after listing on the NYSE. The company’s user growth rose 5% to 8.95 million new users.

Snapchat is still doing well even after releasing the redesign for iOS and Android users as millions of new users have signed up. Earlier, its user growth had gone down, more so after Facebook released Stories on Instagram, WhatsApp, and Messenger.

For the last quarter, the company reported a revenue of $285.6 million, which is 72% improvement compared to the same quarter in 2017. Snap’s total loss was $350 million. In comparison, Wall Street had expected the company to report a loss of $405 million and revenues of $255 million.

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