Connect with us

Music

Snapchat stock plummets $800 million following Rihanna’s repsonse to Offensive Ad

BellaNaija.com

Published

 on

Snapchat has fallen a further $800 million behind on the stock market following Rihanna‘s response to their perceived offensive ad.

The singer became the second celebrity to bring down the app’s stock after tearing into them on Thursday following an ad which was perceived as making light of Domestic Violence. Rihanna wrote on her Instagram story;

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!” the singer 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’s stock has once fallen this year after their recent update when Kylie Jenner tweeted, “Sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad“.

According to CNN Tech, Rihanna’s comment sent Snapchat’s stock down by 4% erasing $800 million from their market value

12 Comments

  1. Joseph

    March 17, 2018 at 1:08 pm

    powerful women, keep on the fight, till victory comes

  2. Frank

    March 17, 2018 at 1:32 pm

    You live by the influencer model, you die by the influencer model

    • Anon

      March 17, 2018 at 1:44 pm

      Pretty well summed up.

  3. CrazyWorld

    March 17, 2018 at 2:11 pm

    You people sha like to give celebs fake power. Rihanna is big yes but not to the point of letting a company lose this much. First it was Kylie that let them lose so much, now Its Rihanna.

    Snapchat has been doing stupid updates and losing stocks way before Rihanna or Kylie. It’s management problem they are having issues with not some random ad that was approved by some automation. Rihanna isn’t that powerful yet.

    • Nana

      March 17, 2018 at 8:03 pm

      Rihanna isn’t that powerful yet? Okay.

    • Vera

      March 17, 2018 at 10:17 pm

      is it the reading you can’t do or it is the English you don’t understand?
      Has SnapChat consistently lost value each week? Yes
      However, the loss in stock value immediately after the Kylie and Rihanna incidents far exceeded the weekly average loss in value so these are obvious triggers. That’s why it has been reported as such everywhere from Bloomberg to the Wall Street Journal.
      Certain brands are extremely dependent on influencers and Snapchat is one, so yes Rihanna and Kylie can have such an effect on an organisation like Snapchat.

  4. TamsB

    March 17, 2018 at 2:34 pm

    BN…. REPSONSE!!! Really??????

  5. April

    March 17, 2018 at 2:44 pm

    They have Bobrisky so no dulling.

  6. Deleke

    March 17, 2018 at 3:47 pm

    What will now happen when Bobrisky gives his own verdict?

    • Tink tink

      March 17, 2018 at 7:53 pm

      Lmaoooo. It’s a wrap for snap chat ooo

  7. Uberhaute_Looks

    March 17, 2018 at 11:05 pm

    Where’s Kiss?

  8. Ted

    March 18, 2018 at 6:53 am

    Some people just talk ignorantly. Rihanna isn’t that powerful, Really??? Because Nigerian celebs get paid to influence nothing, don’t let that confuse you. When a person sells millions of albums worldwide, that already establishes a fan base; a ready made group she can have influence over. Secondly even if a brand isn’t influencer driven, any criticism by an influential person can affect the brand, most especially when such criticism is valid. They need a good crisis management team to help out with good PR so the damage isn’t irreparable and they don’t continue to drop value/stock..

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Star Features

Advertisement
css.php