Elon Musk, aka the Technoking of Tesla, is causing havoc on the stock market once again. This time shares are surging over one thing you would never expect – Baby Shark.
Elon Musk doo-doo-doo-doo-doo-doo
On June 2, Elon Musk voiced his opinion, as he often does, on his Twitter account.
The tweet in question was a seemingly harmless response to a South Park video about meme stars. Musk replied to the post saying “Baby Shark crushes all! More views than humans.”
Baby Shark crushes all! More views than humans. https://t.co/48Ol3ZzhjP
— Elon Musk (@elonmusk) June 1, 2021
This much is true. The original Baby Shark video on YouTube has 8.6 billion views and there are approximately 7.6 billion people on Earth, which says a lot about humanity.
Musk’s opinion on Baby Shark, however, triggered shares in the stock market to rise yet again.
This time shares in Samsung Publishing rose by 10 per cent before they settled to 6 per cent on the Korea Exchange in Busan, according to The Guardian.
Samsung Publishing is the second-largest stakeholder in SmartStudy, the creator of Baby Shark. The CEO of SmartStudy remains the largest shareholder.
This certainly isn’t the first time Musk has tweeted something which caused the stock market to vary wildly.
Musk’s tweets about Bitcoin and Tesla’s holdings in the cryptocurrency have seen sales in Bitcoin change rapidly. After Musk alluded to Tesla dumping its supply of Bitcoin, the cryptocurrency dropped by 8 per cent.
But the most infamous of Musk’s tweets have to be about Dogecoin, which was considered little more than an inconsequential meme coin until Musk paid it any attention.
At this point, you can basically track the rise and fall of Dogecoin’s value based on what Musk has tweeted about it. Around the Tesla CEO’s appearance on Saturday Night Live the cryptocurrency rose in value before falling rapidly after he attempted to backpedal on his claims. It then rose again after Musk tweeted saying he was working with the Doge devs to improve its efficiency.
And just last month Musk made the price of Bitcoin plummet after announcing that Tesla would no longer accept it as a form of payment. This was mere months after Tesla bought $US1.5 billion worth of Bitcoin, sold some of it and began accepting it as a payment option for its cars.
When will the chaos tweeting end? Maybe if those rumours about Musk being investigated for market manipulation pan out.