The Elon Musk effect – here's how the Tesla CEO makes the market go bonkers with just tweets

Feb 5, 2021 By: Sanchita Dash

Elon Musk, the world’s richest man, has a way with the US stock market

Redditors didn’t drive the entire rally. The stock gained 60 per cent after this tweet from Musk. Credit: Elon-Musk

While Musk meant for users to switch to Whatsapp-rival Signal, some Wall Streeters read it wrong…. Credit: Elon-Musk

The stock of this medical device maker that shares its name with the messaging up spike a whopping 12,000 percent Credit: Signal-Advance

Musk’s endorsement of the online marketplace drove the stock price up by over 3 per cent after his tweet. Credit: Elon-Musk

Shares of Cyberpunk 2077 developer CD Projekt were up by over 12 per cent after Musk praised the game. Credit: Elon-Musk

Musk’s endorsement of Bitcoin sparked a huge rally taking the cryptocurrency asset’s value to over $35,000. Credit: Unsplash

Musk changed his Twitter bio from Bitcoin to Dogecoin and just in one day the price of Dogecoin was up by 50 per cent. Credit: Wikimedia