Elon Musk ‘Baby Shark’ tweet causes shares to soar

Published: Updated:
Enable Read mode
100% Font Size

Samsung Publishing Co., the second largest shareholder in the producer of the “Baby Shark” viral YouTube song, surged to its highest level in more than a month after Elon Musk tweeted about the kiddie pop jingle.

For all the latest headlines follow our Google News channel online or via the app.

Shares in the Seoul-based company that owns 18.57 percent in the song’s producer SmartStudy Co. climbed as much as 10 percent. The gains have helped the stock more than quadruple since the end of 2018 as the song became popular.

Musk tweeted during Asian trading hours Wednesday “Baby Shark crushes all! More views than humans,” with a video clip of the song attached. His tweet triggered another rally in the shares, again underscoring the influence the billionaire co-founder of Tesla Inc. commands on asset prices from crypto currencies like Bitcoin and Dogecoin to equities including the so-called meme stocks.

Baby Shark (Doo Doo Doo Doo Doo Doo) became a YouTube sensation in 2018. It has been viewed nearly 8.7 billion times and has made it to the Billboard Hot 100 chart on multiple weeks.

Read more:

Musk says delivery of Tesla’s Model S Plaid pushed back to June 10

Elon Musk tweets support for cryptocurrencies compared to traditional currency

Tesla puts brake on Shanghai land buy as US-China tensions weigh: Sources

Top Content Trending