Kylie Jenner tweet hammers snapchat shares

Reality TV star Kylie Jenner wiped $1.3bn (£1bn) off Snap's stock market value after tweeting that she no longer used its Snapchat messaging app.

Celebrity Kim Kardashian's half-sister posted: "sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad."

Snap's shares sank after Ms Jenner's tweet about Snapchat's re-design to her 24.5 million Twitter followers.

One million people signed a petition demanding Snap roll back the change, BBC Sport reports.

After dropping almost 8%, shares in Snap closed 6% down on Wall Street, and are now back near the $17 price at which the shares were listed when the company floated on the stock market in March of last year.

Snapchat is facing intense competition from Facebook's Instagram - especially for celebrity users - and Ms Jenner's attack comes at a time when investors are already worried.