Impact of Social Media on Wall Street

Recently, reality TV personality Kylie Jenner posted a casual opinion of how she has started fancying Snapchat (a multimedia social messaging app) slightly lesser off late. Little did she know that it would cause shake the ‘Snap’ stock price by a massive 6% and cause losses worth $1.3 billion for investors. This example goes on to prove how much social  media – and it’s protagonist celebrities – can influence a brand’s goodwill and popularity. Any news spreads like wildfire and is spared by no users opinion and comment. Bad publicity on social media can prove to magnify the problem exponentially. Thus, companies must be aware of the dangers bad social media publicity can have towards it brand as well as disaster recovery tools to mitigate the problems when they occur.

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