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The Elon Effect: Elon Musk’s Twitter activity that boosted (or crashed) the value of stocks and crypto by $10 billion on average
We’ve analysed seven times he’s flexed his seemingly God-like ability to control the stock market from his Twitter account
The Elon Effect: Elon Musk’s Twitter activity that boosted (or crashed) the value of stocks and crypto by $10 billion on average
We’ve analysed seven times he’s flexed his seemingly God-like ability to control the stock market from his Twitter account
1/ #Dogecoin
On 4th February 2021, Elon Musk came back to Twitter with a bang. He put out a series of tweets advocating Dogecoin as “the people’s crypto”.
By end of 4th Feb 2021:
Share Price = +44%
Market Cap = +$2.1 billion
On 4th February 2021, Elon Musk came back to Twitter with a bang. He put out a series of tweets advocating Dogecoin as “the people’s crypto”.
By end of 4th Feb 2021:
Share Price = +44% Market Cap = +$2.1 billion
2/ #Bitcoin 
On 29th January 2021, Elon Musk changed his Twitter bio to “ #Bitcoin”. Elon championing Bitcoin caused a tsunami of interest in the cryptocurrency.
By end of 29th Jan 2021:
Share Price = +8.43%
Market Cap = +$50 billion
On 29th January 2021, Elon Musk changed his Twitter bio to “ #Bitcoin
”. Elon championing Bitcoin caused a tsunami of interest in the cryptocurrency.By end of 29th Jan 2021:
Share Price = +8.43% Market Cap = +$50 billion
3/ Signal Advance
The power of the Elon Effect is so strong it can send the wrong company’s share price soaring.
That's what happened on 7th January 2021 when Elon Musk Tweeted “Use Signal”.
By the close of 7th Jan 2021:
Share Price = +527%
Market Cap = +$33 million
The power of the Elon Effect is so strong it can send the wrong company’s share price soaring.
That's what happened on 7th January 2021 when Elon Musk Tweeted “Use Signal”.
By the close of 7th Jan 2021:
Share Price = +527%Market Cap = +$33 million
4/ #Tesla
On 1st May 2020, Elon Musk controversially Tweeted that the Tesla stock price was “too high” in his opinion.
By the close of 1st May 2020:
Share Price = -10% 
Market Cap = -$15 billion
On 1st May 2020, Elon Musk controversially Tweeted that the Tesla stock price was “too high” in his opinion.
By the close of 1st May 2020:
Share Price = -10% Market Cap = -$15 billion
5/ #GameStop
Elon Musk added fuel to the fire in the battle of the "Reddit stocks" with his Tweet “Gamestonk!!“, with a link to the Reddit forum where much of the discussion was unfolding.
By the close of 26th Jan 2021:
Share Price = +93%
Market Cap = +$10 billion
Elon Musk added fuel to the fire in the battle of the "Reddit stocks" with his Tweet “Gamestonk!!“, with a link to the Reddit forum where much of the discussion was unfolding.
By the close of 26th Jan 2021:
Share Price = +93%Market Cap = +$10 billion
6/ CD Projekt (Cyberpunk)
Elon Musk sent out a series of Tweets about the game Cyberpunk, by CD Projekt, saying that it will be available to play in Tesla models.
By the close of 28th Jan 2021:
Share Price = +11%
Market Cap = +$1 billion
Elon Musk sent out a series of Tweets about the game Cyberpunk, by CD Projekt, saying that it will be available to play in Tesla models.
By the close of 28th Jan 2021:
Share Price = +11%Market Cap = +$1 billion
7/ Etsy
On 26 January, Elon Musk shared his love for the e-commerce website Etsy.
The Tweet resulted in a quick spike in the share price, however, ended up closing at 2% below what it was the day before. This proves that longer-term Elon Effects aren’t guaranteed.
On 26 January, Elon Musk shared his love for the e-commerce website Etsy.
The Tweet resulted in a quick spike in the share price, however, ended up closing at 2% below what it was the day before. This proves that longer-term Elon Effects aren’t guaranteed.
8/ Overall, Elon Musk’s Twitter activity has shifted the share price of six companies/cryptocurrencies by 99% on average by the close of the respective market each day. Capital at risk.
For the full analysis, click here: https://www.finder.com/uk/the-elon-musk-effect
For the full analysis, click here: https://www.finder.com/uk/the-elon-musk-effect
