Elon Musk tweets again, sending shares of ‘Baby Shark’ investor soaring

CNBC2021-06-02

KEY POINTS Shares of Samsung Publishing, investor in the producer of “Baby Shark,” surged 6.29% on Wednesday after Elon Musk tweeted about the viral song. Wednesday’s stock surge was yet another ...

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Comments

Wallstrtbets
2021-06-03
Wallstrtbets
Tweeted.
KryZ
2021-06-02
KryZ
The Genius aka Menace strikes again!
SGInvests
2021-06-02
SGInvests
A real influencer
- syleo:
  indeed..
- Kess:
  ya but ridiculous
- HeRock:
  gg
SandDust
2021-06-02
SandDust
Tweet so powerful!

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Cryptocurrencies such as bitcoin and dogecoin have previously experienced sharp moves in price following comments by the tech billionaire.\nFor its part, shares of Samsung Publishing surged more than 76% in 2018 after “Baby Shark” cracked the top 40 charts in the U.K.\n\nElon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.\nShares of Samsung Publishing, a major shareholder in the producer of “Baby Shark,” soared on Wednesday after a tweet by Tesla CEO Elon Musk about the viral children’s song.\nShares of Samsung Publishing in South Korea soared more than 10% at one point during regular trading on Wednesday, before paring some gains to close 6.29% higher. The company has no affiliation with South Korean conglomerate Samsung Group, even though they share the Samsung name.\nWednesday’s gains came on the back of a tweet by Musk on Tuesday morning Asia time, which said: “Baby Shark crushes all! More views than humans.”\n\nThe stock remains off its year-to-date high of 59,000 Korean won in April, according to data from Refinitiv Eikon, though it has already surged more than 97% since the start of the year. Samsung Publishing shares were sitting at 47,300 Korean won by Wednesday’s close.\nThe stock surge was another example of Musk’s apparent outsized influence.\nCryptocurrencies such as bitcoin and dogecoin previously saw sharp moves in their prices following comments by the tech billionaire. 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