Elon Musk tweets once more, sending shares of ‘Baby Shark’ investor hovering

Shares of Samsung Publishing, a significant shareholder within the producer of “Baby Shark,” soared on Wednesday after a tweet by Tesla CEO Elon Musk in regards to the viral kids’s track.

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 firm has no affiliation with South Korean conglomerate Samsung Group, regardless that they share the Samsung title.

Wednesday’s positive factors got here on the again of a tweet by Musk on Tuesday morning Asia time, which stated: “Baby Shark crushes all! More views than humans.”

The inventory stays off its year-to-date excessive of 59,000 Korean gained in April, in accordance with knowledge from Refinitiv Eikon, although it has already surged greater than 97% because the begin of the 12 months. Samsung Publishing shares have 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 reminiscent of bitcoin and dogecoin beforehand noticed sharp strikes of their costs following feedback by the tech billionaire. His tweets have previously also been linked to moves in the stock market in so-called meme shares reminiscent of GameStop.

Shares of Samsung Publishing surged more than 76% in 2018 after the viral song “Baby Shark” cracked the top 40 charts in the U.K. The track has been round for effectively over a decade, in accordance with web search outcomes, however the 2016 video cowl created by Samsung Publishing affiliate SmartStudy has been a major driver of curiosity internationally.

The video was created by its Pinkfong division, which SmartStudy says “develops creative, animated content to provide stimulating and fun learning experiences to children worldwide.” Pinkfong distributes its content material via cell apps and platforms reminiscent of YouTube and Amazon Video.