If Wall Street/investors are so out of touch that a vacuous tweet of a socialite can have so much effect, to me that’s a different issue entirely. Not to mention one reason this could happen is if the stock price was grossly overvalued in the first place. In general, I don’t see anything specifically illegal about this.
Kylie Jenner has 24.5 million twitter followers that presumably think somewhat similarly to her. I'm pretty sure that her thoughts on this matter are indicative of a larger trend that an investor would be wary to ignore.
A trend is more than one person, and as the article states her situation has recently changed. This is all a sign of pure laziness/hype/greed, instead of doing some actual market research before you make investment decisions. In any case, I’m not sure how much of her “thought” went into that tweet.
How do you arrive at calling Kyle Jenner vacuous? She has an audience and has been quite successful at monetizing. If she is vacuous then Snapchat and lot of other startups should be described the same way. Given the sales of her cosmetic line, a Wall Street investor would do well to listen to her when she thinks a service is over.
