Shares of the social media company plunged Wednesday after it changed its app again — only months after a previous redesign that ticked off users. Last year, Snapchat changed the app to differentiate between a user's personal friends and media superstars that a user follows. Concerns about privacy for social media users have reached new heights since the Facebook/Cambridge Analytica data scandal. Many investors worry that Snapchat won't ever top Instagram's user count, especially if Instagram keeps rolling out features similar to Snapchat's. Facebook will report its latest earnings, including Instagram user numbers, after the market closes Wednesday.

Source: CNN April 25, 2018 18:11 UTC