Fin it to win it: Elon Musk’s ‘Baby Shark’ tweet gives Samsung shares bite
After the billionaire tweeted about the number of views the song has had the company’s shares rocketed
Samsung Publishing, a shareholder in the producer of the Baby Shark viral YouTube song, rallied after Elon Musk tweeted about the kiddie-pop jingle.
Shares in the Seoul-based company that owns the second-largest stake in the song’s producer, SmartStudy, climbed as much as 10% to their highest level since May 7. The gains have helped the stock more than quadruple since the end of 2018 as the song became popular. Even a cryptocurrency named after it was minted in May.
Musk tweeted during Asian trading hours on Wednesday that “Baby Shark crushes all! More views than humans”, with a video clip of the song attached. His tweet triggered a rally in Samsung Publishing’s shares, which, again, underscores the influence the billionaire co-founder of Tesla commands on assets from crypto currencies such as bitcoin and dogecoin to equities, including so-called meme stocks...