Elon Musk added 27% to Twitter’s worth in one day. Here are other assets he’s either sparked or sunk with his tweets
$Twitter (Delisted)(TWTR.US$ shares soared more than 20% on news that Elon Musk has bought a 9% stake in the company—the latest business entity to see its stock head for lunar orbit after the $Tesla(TSLA.US$ CEO has shown an interest.
Musk hasn’t tweeted about the purchase yet. News of the stake came via a filing with the Securities and Exchange Commission (SEC).
But Musk has had plenty to say about Twitter in the past, specifically about whether the company adheres to free speech patterns.
That has led some analysts to suspect he has more ambitious investment plans for Twitter.
That has led some analysts to suspect he has more ambitious investment plans for Twitter.
Twitter, though, is hardly the first company to see a big pop because of Musk. Here’s a look at some of the other financial worlds he has influence with just a few words.
1. Tesla
Musk’s biggest investment has seen its stock both rise and fall due to Musk’s comments.
In 2018 it zoomed 11% after he tweeted his was considering taking the company public at $420, noting he had secured funding. (That tweet eventually earned him a lawsuit from the SEC that cost him a $20 million fine and resulted in him stepping down as chairman for three years.)
His words have brought the share price lower even more frequently, though. Last May, for instance, he brought prices down by 10% after tweeting “Tesla stock price is too high, imo.”
And, in 2018, an attempted April Fool’s joke sunk shares by more than 8%.
2. GameStop
Reddit’s r/wallstreetbets community gets much of the credit for $GameStop(GME.US$’s rapid rise, but Musk fanned the flames in a big way on Jan. 26, 2021, tweeting “Gamestonk!” and a link to the subreddit. Shares soared 50%.
3. Etsy
Even off-the-cuff comments can drive stocks. On Jan. 26 last year, Musk tweeted “I kinda love $Etsy Inc(ETSY.US$.” Shares immediately soared by almost 9%, before falling back to normal levels.
4. Gogo
In October 2021, Musk tweeted he was in talks with airlines about installing his Starlink satellite internet service. There were no announcements of deals or details offered, but rival $Gogo Inc(GOGO.US$ saw its shares tumble 5.7%.
5. Hertz
Last November, Tesla and $Hertz Global(HTZ.US$ were both seeing shares surge on rumors that the car rental company had signed a massive deal with Tesla. Musk popped that balloon with the comment that “no contract has been signed yet.”
Source: Bloomberg, Fortune
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Marcedric Kirby : MARCEDRIC.
KIRBY INC.
THE VALLEY OF THE VAMPIRES & THE KILL ZONE SAFETY PROGRAM HOMELESS SHELTERS NURSING HOMES BONUSES FOR THE WORKING PEOPLE IN THE VALLEY
affectionate Monk Marcedric Kirby: Lol we’re all getting our Biden bonus right now. BEND OVER!
101839373 : Misleading title lol
Milk The Cow : All in one, Elon is kinda like the market influences
.
Joseph LiSanti : Hehe
Expendabiggles : Wish Elon would take a position in AMC
Venture118 : Yes… I’m not surprise if his takes his interest to 14.9%
solembaum : headline is bullshit. Elon did not buy the day it went up. Retail sheep did.
Milk The Cow Expendabiggles: Maybe, because he is all about Dogecoin
& AMC also adopted the idea, I think 
.