'Shame on you': Snap sinks after Rihanna blasts 'ignorant' ad

Markets Insider

• Snap has pulled an insensitive ad that asked users if they would rather "slap Rihanna or punch Chris Brown."
• Shares of Snap sank Thursday after the singer blasted Snapchat on her Instagram.

Shares of Snap fell more than 4% Thursday after Rihanna blasted a recent Snapchat ad that asked "would you rather slap Rihanna or punch Chris Brown," a reference to when Brown assaulted his then-girlfriend Rihanna in 2009.

"Now SNAPCHAT I know you already know you ain't my fav app out there," the singer wrote in an Instagram story posted Thursday morning.

"But I'm just trying to figure out what the point was with this whole mess! I'd love to call it ignorance but you know I ain't that dumb! You spend money to animate something that would intentionally bring shame to DV [domestic violence] victims and make a joke of it!!! … shame on you. Throw the whole app-oligo away."

Instagram and Twitter

Snap apologized for the ad on Wednesday, saying it was an error.

"The advert was reviewed and approved in error, as it violates our advertising guidelines," the company said, according to BBC. "We immediately removed the ad last weekend, once we became aware. We are sorry that this happened."

This isn't the first time a celebrity has moved shares of Snap, which has struggled to keep its stock price above its March 2016 initial pubic offering price of $17.

Snap slid 7% when Kylie Jenner tweeted in February that she doesn't use the app anymore.

Shares of Snap are up 17% this year.

Get the latest Snap stock price here.