A Single Tweet By Elon Musk About One Company Made Its Stocks Skyrocket!

Shares of Etsy were popping with a single tweet by the TeslaCEO Elon Musk. Etsy’s stock rose nine per cent in premarket trading following Musk’stweet that said “I kinda love Etsy.”

Reuters

The e-commerce company wasn’t moving at all in the premarketprior to Musk’s early morning call out. It’s now set to be the biggest gainerin the S&P 500 when markets open.

Musk explained that he had bought a hand-knit wool Marvinthe Martian helm (sic) for his dog. He even posted a picture of the hand-knitwool. Following the mention, the shares of Etsy hit an intradayrecord, according to Bloomberg.

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According to a?Bloomberg?report, shares gained as much as 8.6% and hit an intraday record.?On popular request, Mr Musk, 49, also shared adorable photos of his pet dog in the Looney Tunes-inspired hat.?

The 'I kinda love Etsy' tweet has now collected over 2.35lakh likes, 16,000 retweets, and more than 10,000 comments. The tweet featuringpictures of his dog and the hand-knit wool has garnered over 11,000 likes andclose to 584 retweets.

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Earlier this month, Signal Advance Inc. skyrocketed afterthe Tesla chief urged in a tweet for his followers to “use Signal.” Investorsconfused Signal Advance with Signal, an encrypted messaging platform that Muskhad encouraged his followers to use.

Signal Advance shares soared to a high of $70.85 from $0.60after Musk's tweet.

According to Business Standard, Etsy's stock is up nearly560% off a March low, with most of the gains reflecting increased e-commercedemand in the pandemic.