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Elon Musk makes Samsung stocks skyrocket by tweeting about ‘Baby Shrak’

Shares in South Korean firm Samsung Publishing soared on Wednesday.


3 min read

Elon Musk has done it again, showing that the market can, and still is, affected by his tweets .

The Tesla CEO, who has made headlines for contributing to the rise and fall of cryptocurrencies (particularly Bitcoin and Dogecoin ), sent Korean company Samsung Publishing skyrocketing on Wednesday after tweeting about a viral video.

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

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

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

Since then, it has been declared the most viewed video in YouTube history.

As Musk returned attention to video, Samsung Publishing soared nearly 10% on Wednesday to an impressive 6.29% by late afternoon.

Musk’s tweet has garnered more than 8,600 likes.

The Tesla CEO, known for tweeting cheeky jokes and memes, posted a meme on his account that apparently pokes fun at the media attention he’s been getting about his effect on cryptocurrencies and the market.

“I found this photo of me as a child,” he captioned a fake dated 1980 photo. The image includes an image of the internet meme “doge” that has become the symbol and inspiration for the crypto currency Dogecoin.

“I have to keep my passion hidden from the public or I will be socially ostracized,” reads the caption of the photo.

His 56.3 million followers on Twitter quickly caught on.

“My God. Stop. For the good of your shareholders. Stop,” one tweeted.

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




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