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.
Baby Shark crushes all! More views than humans. https://t.co/48Ol3ZzhjP
— Elon Musk (@elonmusk) June 1, 2021
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.