Chrissy Teigen has bailed on Snapchat, and the app's stock took a nosedive after she talked about her decision.
Teigen said over the weekend that she had stopped using Snapchat because of issues with the latest redesign and the site’s recent ad featuring Rihanna that made a joke out of domestic violence.
Regular Snapchat users have been critical of a recent app redesign that made it more difficult to navigate. Other celebrities such as Kylie Jenner have also said they stopped using the platform, and stocks have taken a hit in previous weeks.
Rihanna also stopped using Snapchat after an ad for the game “Would You Rather?” aired on the app and asked whether people would rather “Punch Chris Brown or Slap Rihanna?” The ad made light of a 2009 domestic violence incident in which Brown abused Rihanna.
Snapchat stock dropped more than 2 percent Monday after Teigen's comments but rebounded to close down .7 percent Monday.
Besides Teigen and other popular users leaving the site, shares could also have slipped because of an investigation into Facebook privacy standards, which is making social media investors fear more government regulation of social media sites.
Snap's stock value is now down more than 33 percent from a 52-week high of $24.40 a share since last year when Snap launched an IPO that saw a huge rise and then significant drops in value.
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