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Elon Musk tweets again, sending shares of 'Baby Shark' investor soaring

Mount Equity Group Tokyo, Japan > News > Tech > Elon Musk tweets again, sending shares of 'Baby Shark' investor soaring

Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.Yasin Ozturk | Anadolu Agency | Getty Images

Shares of Samsung Publishing, a major shareholder in the producer of “Baby Shark,” soared on Wednesday after a tweet by Tesla CEO Elon Musk about the viral children’s song.

Shares of Samsung Publishing in South Korea soared more than 10% at one point during regular trading on Wednesday, before paring some gains to close 6.29% higher. The company has no affiliation with South Korean conglomerate Samsung Group, even though they share the Samsung name.

Wednesday’s gains came on the back of a tweet by Musk on Tuesday morning Asia time, which said: “Baby Shark crushes all! More views than humans.”

The stock remains off its year-to-date high of 59,000 Korean won in April, according to data from Refinitiv Eikon, though it has already surged more than 97% since the start of the year. Samsung Publishing shares were sitting at 47,300 Korean won by Wednesday’s close.

The stock surge was another example of Musk’s apparent outsized influence.

Cryptocurrencies such as bitcoin and dogecoin previously saw sharp moves in their prices following comments by the tech billionaire. His