Elon Musk Sends Shares Soaring After Tweet About Viral Video

Shares of South Korean firm Samsung Publishing skyrocketed on Wednesday.
Elon Musk Sends Shares Soaring After Tweet About Viral Video
Image credit: Maja Hitij | Getty Images

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2 min read

Elon Musk is back at it again, proving that the market can, and still continues to be, affected by his Twitter fingers.

The Tesla (TSLA) CEO, who’s been making headlines for contributing to the surge and fall of cryptocurrencies (particularly Bitcoin and Dogecoin), sent Korean firm Samsung Publishing soaring Wednesday after tweeting about a viral video jingle.

The firm is a key investor in SmartStudy, a Korean entertainment company which produced the kid sensation “Baby Shark” that Musk tweeted about late Tuesday night.

"Baby Shark crushes all,” the billionaire wrote. “More views than humans.”

Related: Elon Musk explains Tesla's price increases, removal of lumbar support

The video was originally released on YouTube back in 2016 and has since become an international sensation, receiving over 8.6 million views on the platform.

It has since been declared the most-watched video in YouTube history.

Thanks to Musk bringing attention back to the video, Samsung Publishing soared nearly 10% on Wednesday, settling at around a still impressive 6.29% as of late afternoon.

Related: Elon Musk Continues to Back Dogecoin Over Its Competitors

Musk’s tweet has garnered over 8,600 likes.

The Tesla CEO, who's been known to tweet out cheeky jokes and memes, since posted a meme to his account that seemingly pokes fun at the media attention he's been receiving about his effect on crypto and the market.

"Found this pic of me as a child," he captioned a photo that was fake-dated 1980. The image includes a picture of internet meme "doge" which has become the symbol and inspiration for crypto coin Dogecoin.

"I have to keep my passion hidden from the public or I'll be socially ostracized," the text on the photo says.

His 56.3 million Twitter followers quickly caught on.

"OMG. Just stop. For the sake of your shareholders. Stop," one tweeted.

Dogecoin was up 24.61% in valuation over a 24-hour period as of late Wednesday afternoon. 

Related: A tweet from Elon Musk crashed Bitcoin and this new tweet lifted it

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