Snap loses $1.5 billion in market value after Jenner tweet

Snap lost about $1.5 billion in market value on Feb. 22.    The drop happened a day after Kylie Jenner criticized Snapchat’s redesign.    [“sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad," Jenner posted to her Twitter account on Wednesday (February 21).]   Shares of Snap dropped more than 6% the morning after Jenner’s post. This lead many analysts to believe the two were connected.   Earlier this week, Snap responded to a Change.org petition calling for a reversal of  Snapchat’s latest redesign.   Snap promised an update in the coming weeks to the 'Friends and Discover' section of the app. Credit: Reuters