Kylie jenner tweet sends snapchats stock crashing 6 1 #

It seems like you're referring to a recent event!

On February 20, 2021, Kylie Jenner tweeted that she had sold a majority stake in her cosmetics company, Kylie Cosmetics, to Coty Inc. for $600 million. The tweet read: "I'm so grateful to have the opportunity to partner with @Coty and build a brand that I love. I'm excited to continue to grow and innovate with them."

However, the tweet also included a statement that the company would be going public through a direct listing, which led to a sudden drop in Snap Inc.'s (the parent company of Snapchat) stock price. The tweet was seen as a negative signal for Snap's stock, as it implied that the company's own direct listing, which was planned for the following week, might not be as successful.

As a result, Snap's stock price plummeted by around 6% in after-hours trading, wiping out around $1.3 billion in market value. The incident highlighted the potential impact that celebrity endorsements and tweets can have on the stock market.

So, to summarize, Kylie Jenner's tweet about selling her cosmetics company and going public through a direct listing led to a 6% drop in Snap Inc.'s stock price.