Tesla (TSLA) CEO Elon Musk tops the charts of celebrities who are most likely to impact stocks, followed by talk show host Oprah Winfrey and musician Kanye West.
In fourth place was singer Justin Bieber, followed by model and businesswoman Kylie Jenner.
“With millions of companies to choose from, it’s understandable that some people turn to key figureheads and even celebrities to inspire their financial decisions,” said a report by Money.co.uk, which looked at which celebrities have the biggest impact on a company’s prices from their activity on social media.The study analysed tweets over the past five years by breaking down the time at which they were posted, and the immediate impact on the stock of the company mentioned.
It found that not only is Musk “the most vocal” about other companies on social media, his tweets have also caused huge differences to share prices as investors take his word as “golden”.Musk on average caused an 84% average change to the share prices of the companies he mentioned, based on analysis of 17 tweets.
But his most impactful tweet ever was "Use Signal" from earlier this year. He was likely referring to the messaging app in the light of privacy concerns over WhatsApp.
However, it ended up boosting the wrong company's stock, as the Signal app isn't listed. Medical device company Signal Advance's stock went soaring after the tweet.His tweets have also impacted cryptocurrencies bitcoin (BTC-USD) and dogecoin (DOGE-USD), the report said.
Musk also caused a 352% change in the gaming industry as he fuelled the frenzied surge in GameStop (GME) shares. On 26 January Musk tweeted “Gamestonk!!”.
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