(Bloomberg) -- Samsung Publishing Co., a shareholder in the producer of the “Baby Shark” viral YouTube song, rallied after Elon Musk tweeted about the kiddie pop jingle.
Shares in the Seoul-based company that owns the second-largest stake in the song's producer SmartStudy Co. climbed as much as 10% to their highest level since May 7. The gains have helped the stock more than quadruple since the end of 2018 as the song became popular. Even a cryptocurrency named after the song was minted last month.
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Musk tweeted during Asian trading hours Wednesday “Baby Shark crushes all! More views than humans,” with a video clip of the song attached. His tweet triggered a rally in Samsung Publishing's shares, which, again, underscores the influence the billionaire co-founder of Tesla Inc. commands on assets from crypto currencies like Bitcoin and Dogecoin to equities including the so-called meme stocks.
“Baby Shark (Doo Doo Doo Doo Doo Doo)” became a YouTube sensation in 2018. It has been viewed nearly 8.7 billion times and has made it to the Billboard Hot 100 chart on multiple weeks.
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