Elon Musk, Founder and Chief Engineer of SpaceX, speaks throughout the Satellite tv for pc 2020 Convention in Washington, DC, United States on March 9, 2020.
Yasin Ozturk | Anadolu Company | Getty Photographs
Shares of Samsung Publishing in South Korea soared greater than 10% at one level throughout common buying and selling on Wednesday, earlier than paring some positive factors to shut 6.29% greater. The corporate has no affiliation with South Korean conglomerate Samsung Group, though they share the Samsung identify.
Wednesday’s positive factors got here on the again of a tweet by Musk on Tuesday morning Asia time, which mentioned: “Child Shark crushes all! Extra views than people.”
The inventory stays off its year-to-date excessive of 59,000 Korean gained in April, based on knowledge from Refinitiv Eikon, although it has already surged greater than 97% for the reason that begin of the yr. Samsung Publishing shares had been sitting at 47,300 Korean gained by Wednesday’s shut.
The inventory surge was one other instance of Musk’s obvious outsized affect.
Cryptocurrencies comparable to bitcoin and dogecoin beforehand noticed sharp strikes of their costs following feedback by the tech billionaire. His tweets have beforehand additionally been linked to strikes within the inventory market in so-called meme shares comparable to GameStop.
Shares of Samsung Publishing surged greater than 76% in 2018 after the viral tune “Child Shark” cracked the highest 40 charts within the U.Okay. The tune has been round for effectively over a decade, based on web search outcomes, however the 2016 video cowl created by Samsung Publishing affiliate SmartStudy has been a main driver of curiosity internationally.
The video was created by its Pinkfong division, which SmartStudy says “develops artistic, animated content material to supply stimulating and enjoyable studying experiences to youngsters worldwide.” Pinkfong distributes its content material via cell apps and platforms comparable to YouTube and Amazon Video.