Or is Elon Musk the new stock market god? – Post Today Around the World

Or is Elon Musk the new stock market god?

Date 03 Feb. 2021 at 8:00 p.m.

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No matter what company Elon Musk says The stock of that company is required every time.

When it comes to Elon Musk, it is believed that few people will not know the richest man in the world. It is both the owner of the electric car company Tesla (Tesla) and the founder of the space transportation company SpaceX, and with the success of both Tesla and SpaceX. Some of them are also interested in electric trains and rockets from both companies. It is therefore not surprising that Musk appears to be a visionary in the eyes of the general public and his fans.

And now he has another position to add, that is The “big generation of Wall Street” has the power to drive the market. It can make the stock’s value jump in just a few words.

In these few months Especially month Jan ago A tweet through Musk’s @elonmusk account, which has nearly 45 million followers, adds to the company’s stock value. In just an overnight

Appearance of musk starting a month July last year Tweeting that the success of a digital currency called Dogecoin was inevitable. After Musk tweeted “One word: Doge,” which means Dogecoin, followers had a different interpretation of Musk’s support. This cryptocurrency then brought together to invest as

By the start of the first month of 2021, Tesla owners were once again creating a stock price phenomenon, regardless of whether they were aware of it or not. This time it’s the queue for Etsy, an e-commerce company selling Japanese crafts. Just Musk tweeted “I kinda love Etsy,” or loved Etsy after he only bought a hand-knit wool hat for his favorite dog. The next day the stock market opened, Etsy stock opened up 9%.

Following up with Shopify, Canadian ecommerce, where just musk responded to a Twitter user comment that the company’s software was so good, Shopify’s shares were up 3.5%.

Not just that. Musk also caused shares of Poland’s biggest video game company CD Projekt to jump more than 40 percent in just four days, the highest since mid-2015, and the turnover is nearly six times its turnover. 3 months average

The company’s Cyberpunk 2077 game released last month. In December last year, there were some problems that caused Sony Corp. to remove the game from the PlayStation store suddenly, after the news spread, it inevitably caused CD Projekt’s stock to drop 20%.

But after Musk tweeted that his Tesla Model Plaid Model S could play Cyberpunk 2077, and the game was awesome, it spiked the stock just like it had with other stocks. That the person mentioned

It’s not just Musk’s tweets that have shaken the stock market. Even changing the profile of Twitter’s profile by adding a single word #bitcoin has caused bitcoin’s value to soar 20%, or up to $ 5,000.

And the latest buzz is the stock of GameStop, the famed US video game store, in a downturn as consumers change their behavior. Investors are deciding that GameStop stocks have plunged into one of the most short-lived stocks.

But after Musk tweeted a link of a subgroup discussing stocks WallAtreetBets, on the Reddit community, is behind the push for GameStop’s share price to chase after big speculators, in addition to the power of small investors helping to push the price up, GameStop’s shares soared 1,700% in no time.

Through all of these phenomena, Musk’s admired Reddit community called him “Papa Musk” or “Papa Musk”.

In addition, at the beginning of the month Jan ago Musk tweeted a message inviting followers to switch to the nonprofit’s chat app Signal, which featured the security of encrypted chats. This led investors to buy Signal shares, but some investors mistakenly bought Signal Advance shares of a similar name. But the company was an engineering company and not affiliated with Musk’s signal that the price jumped 1,100%.

Musk was not the first to influence the Aswath Damodaran, a professor of finance at New York University, said. For one person to influence a company’s stock is nothing new. The opinion of banker John Pierspont Morgan more than 100 years ago or of Chrysler’s Leah Cocca. Has the same power to drive the market

As well as the opinion of investment guru Warren Buffett, who has also generated a buzz among investors, he is nicknamed ” “Oracle of Omaha”, whose name Omaha is Buffett’s hometown.

As a result, the AFP questioned whether Elon Musk would be the new “Wall Street god”.

Christopher Smith, a communications professor at the University of Southern California, said: Musk knows the art of using technology to create excitement.

And that technology is Twitter, which is often used to inform news about companies. Including the company’s own But the tweet also sparked Musk with the US Securities and Exchange Commission (SEC) in 2018 after a tweet said it would withdraw Tesla from the stock market. And open to raise funds from the private sector by selling US $ 420 per share, although some people may see it as a joke But there were investors flocking to buy shares until Tesla shares jumped 11%.

The incident brought the SEC down with a $ 20 million fine for musk and Tesla. And Musk has to resign as chairman of Tesla’s board of directors.

And maybe because of fear that there will be another problem with the SEC? Because his tweet still shakes the stock market does not stop. Recently Musk chose to use Twitter, announcing “Off Twitter for a while.”

Take a short break from the Twitter world, style.

Photo by Britta Pedersen / POOL / AFP

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