Chrissy Teigen Tweets Her Breakup With Snap, Stock Drops

Anthony Behar/Sipa USA/AP images

Model Chrissy Teigen announced she was done with Snapchat this weekend, another celebrity break-up that knocked the company’s stock down a peg.

Teigen turned to Twitter to pronounce that she stopped using the app, the third social media influencer to publicly declare her dissatisfaction with the ephemeral messaging platform in recent months.

Kylie Jenner’s Tweet caused the company to shed $1 billion in market valuation almost overnight, in part because her criticisms amplified investor  worries about how users were reacting to Snapchat’s new look.

Pop star Rihanna dealt the platform another blow in mid-March, when she faulted the platform for an ad that she felt trivialized domestic violence. Snap issued a swift apology, calling the ad “disgusting” and saying it should never have appeared on the service.

The latest celebrity blow caused Snap’s stock to shed about 2% of its value Monday, dropping to $16.11 in midday trading. The stock’s reaction underscores the social network’s vulnerability to high-profile defections from the platform.

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