Elon Musk tweet boosts shares in company that owns ‘Baby Shark’ children’s jingle

Shares in Samsung Publishing – which is a shareholder in the producer of the “Baby Shark” viral YouTube song – rallied after Elon Musk tweeted about the children’s 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 shares more than quadruple since the end of 2018 as the song became popular. Even a cryptocurrency named after the song was minted last month.

Mr Musk tweeted on early Wednesday morning 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 car firm Tesla commands on assets from cryptocurrencies like Bitcoin and Dogecoin to equities including the so-called meme stocks. 

– Bloomberg


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