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When tweets cause stock market prices to crash

March 8th, 2021, 6:10 pm

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A tweet from Elon Musk is enough to send stock prices up or down. He’s not the only Twitter user with such power over the stock market. These tweets caused significant losses.

“I kinda love Etsy”: Somebody like Elon Musk doesn’t have to tweet much more to get a lot of movement on the stock market. The Etsy share has meanwhile given Musk a double-digit increase. In a financial world that is spinning ever faster, social media posts that are unceremoniously released are often the trigger for profits – or even losses. How fast it can go is shown by the recent hoax about the death of Elon Musk. This means that the Tesla boss has once again become the focus of twitter-related price fluctuations, albeit this time unintentionally. Another example on a growing list.

Did Kylie Jenner shoot down Snapchat?

Over 200 million followers on Instagram and 38 million on Twitter: what influencer Kylie Jenner posts reaches more people worldwide than the public statements made by most politicians. One can easily imagine the reactions it triggered in the Snapchat headquarters when Jenner asked in a tweet whether anyone would still use Snapchat at all.

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