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Snapchat parent’s stock plummets after Kylie Jenner tweet

Kylie Jenner. (Reuters)
WASHINGTON: Snapchat’s parent company lost some $1.3 billion in market value on Thursday after US reality star Kylie Jenner’s tweeted that she was no longer using the messaging service.
“sooo does anyone else not open Snapchat anymore? Or is it just me ... ugh this is so sad,” Jenner tweeted. She later followed up with “still love you tho snap ... my first love,” but the damage may already have been done.
Snap Inc.’s shares fell by over six percent in Thursday trading, a loss of about $1.3 billion in market capitalization. Jenner has huge followings on various social media platforms. She is regarded as the "new queen of Instagram."
She gave birth to a daughter this month, and the announcement became the most popular post on Instagram, surpassing Beyonce’s pregnancy announcement of 2017.
Later, Jenner shared a photo of her new daughter’s tiny hand captioned with the baby’s name, Stormi Webster. The post had collected more than 13 million “likes.”
Born on Feb. 1, Stormi is the first child for Jenner and her boyfriend, rapper Travis Scott.
Twenty-year-old Jenner is the youngest sibling in the Kardashian-Jenner clan.
She kept largely out of public view duri ng her pregnancy.
In a social media post earlier this week, she said pregnancy was “the most beautiful, empowering and life-changing experience” and that she will “miss it.”