Snapchat Stock Loses $800M After Rihanna Responds to Ad

Rihanna is the latest celebrity to send Snap’s stock sliding.

The singer tore into the app on Thursday for allowing an offensive ad to appear on its platform. Her remark sent Snap’s stock down nearly 4%, erasing nearly $800 million from its market value. Snap’s stock closed down 1% on Friday.

The ad in question was for the mobile game “Would You Rather?,” and it presented users with two options: “Slap Rihanna” or “Punch Chris Brown.” Brown pleaded guilty in 2009 to beating Rihanna during an argument while they were dating.

Rihanna issued a statement on her Instagram account calling out Snap for the ad.

“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.”

She added: “Shame on you.”

Snap issued a statement to CNN calling the ad “disgusting.”

“We are investigating how that happened so that we can make sure it never happens again,” the company said.

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Source: WTVR

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