Talk for Article "Reality TV star wipes $1.3 billion off Snap market value"

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  1. [ This comment is from a user you have muted ] (show)

    I’m not completely convinced by this story.

    She made that tweet at 9.50 pm on the 21st while the market was closed.

    There was a bit of a dip when the market reopened the following morning. Although the overall long term trend for that stock price remains the same.

    How does anyone know that dip is directly connected to her tweet, and not due to some other reason?

    1. [ This comment is from a user you have muted ] (show)

      Hey Dan. If you look at the NYSE, Snap closed on $18.63 on Feb 21. Jenner sent her tweet at 9:50pm ET which as your rightly point out, is after NYSE closes (9pm GMT, or 4pm ET). The NYSE opened the next day and Snap fell to $17.14 by 2pm before rallying and closing at $17.50. The figures quoted in the text check out.

      Fluctuations in stock market prices aren’t an exact science, but when you have long-term investor concerns over profitability (http://uk.businessinsider.com/snapchat-lost-514-million-in-2016-warns-it-may-never-be-profitable-2017-2) and a very public backlash over changes to the app, a social media influencer like Jenner weighing can spark a fall in share price.

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