Elon Musk is the world’s richest man and by now we’re pretty sure that everyone knows it. But did you know how much power tweets of Elon Musk hold? So much power that his one Twitter post about anything can change the fortune of it. Musk is known to be the Twitter master. Many companies have seen a boost in their economy after Elon Musk tweeted about them. Want to know which companies are under ‘The musk effect’? Well, here we are presenting 10 companies that have benefited from tweets of Elon Musk:
‘Use Signal’ tweeted Elon Musk on January 7th, 2021. Little did anyone know that these two words of his would cause a huge impact for not one but two different platforms. First being Signal Technology Foundation and the second one you will read about it later in the blog.
2. Clubhouse Media Group
Just a few days ago on February 1, 2021, Elon Musk tweeted ‘On Clubhouse at 10 am LA time’. Who knew this tweet will cause a huge confusion and benefit a completely different company than what Musk meant.
Clubhouse media group is a China-based company which provides social media content creation. This company saw a sudden increase in their stocks after Elon Musk tweeted about clubhouse audio app. The catch here is that both of these companies are completely unrelated and the app he originally tweeted about saw not much of a gain in its download. Clubhouse Media’s stocks CMGR rallied at about 45% on the day Musk tweeted. ‘The Musk effect’ is no child’s play.
3. Signal Advance
Here it is! The other company that benefited out of Elon Musk’s Signal tweet was Signal Advance Inc. Investors invested in this company after mistaking it for what musk had said. The same day Signal Advance also saw a huge soar in its stocks. Its stock price saw an increase of 12 folds which is the highest the company has registered yet. The stocks which were trading for 60 cents reached the price of 7 dollars 19 cents after the tweet.
Signal Advance is a biotechnology company founded in the year 1992 in Texas, United States. This only goes to show how much of an influence the world’s richest man has in the business world.
Etsy’s stocks skyrocketed to 8.6% making an intraday record after Elon Musk tweeted ‘I kinda love Etsy’ on January 27, 2021. Apparently, he bought a gift for his dog from the website. To this, he also added he had bought a ‘Hand-knit wool Marvin the Martian Helm’.
Many small artists start their businesses on Etsy. They sell handcrafted products and many other interesting articles on the website. Etsy is known to support small businesses and all the people having their businesses on there must be thanking the billionaire for his tweet.
GameStop Corp is an American video game, consumer electronics, and gaming merchandise retailer. It was founded in 1984 with its headquarters in Texas, United States. It also owns EB Games Australia, EB Games, Micromania Zing.
On January 27, 2021 musk tweeted ‘Gamestonk!!’ and things took a turn for the better for this company. That same day Gamestops shares soared to 157%. Just because of Musk’s tweet Senvest management made an investment of $700 million in GameStops’s shares.
Cryptocurrency is replacing physical forms of money. The most popular of these cryptocurrencies is Bitcoin. Bitcoin is an open-source software started by an anonymous source who goes by the name of Satoshi Nakamoto in 2009. Although bitcoin is valued highly in today’s time Musk’s social media power managed to make it even more valuable.
Bitcoin’s value increased by 14% after Tesla’s CEO Elon musk changed his Twitter bio to #bitcoin. Later that day bitcoin was seen to be trading at 37.8 thousand USD. Yet again this only shows how Elon Musk’s Twitter comments can be market swaying.
DogeCoin is yet another Cryptocurrency similar to bitcoin used for e-transactions. If you are pretty active on your social media platforms then you may have come across Dogecoin’s mascot dog in various memes. Because let’s face it the dog has a very capable meme face. But did you know that this meme is doing wonders for the cryptocurrency?. How?. Well, the answer lies in Elon Musk’s powerful tweets which is self-explanatory at this point.
After his short break from Twitter, Musk returned on February 4, 2021, fully in support of the Reddit inflated cryptocurrency Dogecoin. Tweets like posting a meme of the mascot another tweet where he said ‘No highs, no lows, only Doge’ and ‘Dogecoin is the people’s crypto’. The shares of this cryptocurrency also skyrocketed because of the tweets and a little bit of propelling from Reddit as well.
8. CD Projekt
CD Projekt’s shares rallied at 16% after Musk announced through Twitter Tesla Model S can play cyberpunk as well stating ‘It can play Cyberpunk’ where he also added ‘The esthetics of Cyberpunk are incredible’. The company recorded its highest since June 2015 and also claimed it’s trading volumes were six times more than its three-month average.
CD Projekt is a Poland based video game developing, publishing and distributing company. Its headquarters is in Warsaw, Poland. It was founded in 1994 by Marcin Iwinski and Michal Kicinski.
Shopify is an e-commerce company based in Canada with its headquarters in Ottawa, Canada. It was founded in the year 2006 by Tobias Lütke, Daniel Weinand and Scott Lake. It helps to build online stores and provide a full base to build a page which is highly customizable making it one of the best e-commerce platforms to start off with a business.
On January 29, 2021, Musk replied to a user’s tweet who instigated that she uses Shopify for its flexibility and customizable nature. In the reply, he said ‘Shopify is great too. SpaceX used them’. This one reply of his made the company’s stocks showed an increase of 3.5% in late trading in New york.
10. Bandai Namco Inc.
Bandai Namco’s Idolmaster series is the longest-running series of the company. It was started as an arcade game which later was even introduced as a mobile game and an animated series. It’s character and game series became viral after Elon Musk tweeted a meme on January 12, 2021. Not only this but the company’s shares in Tokyo also showed a rise of 4.4% after the tweet. The character’s name that the tweet was about is Sachiko Kashimizu.
Bandai Namco Entertainment inc. is a Japan-based multinational game developing and publishing company. Its headquarters is in Shinagawa City, Tokyo. It also has its branches in America and Europe.