Infotech

Elon Musk, the new oracle of financial markets



Posted on Jan. 30, 2021, 4:00 p.m.

Elon Musk’s tweets have the power to turn some stocks into gold. On Twitter, the richest man in the world punctually dons the costume of financial market guru. With his untimely publications, the founder of Tesla and SpaceX has the power to play the roller coaster on asset prices which he has chosen to praise to his 44.1 million subscribers.

Like Warren Buffett or Ray Dalio in their day, the positions of the successful businessman are scrutinized as much by financial analysts as budding traders. Lately, it was enough for Elon Musk to replace his account description with “#bitcoin”, for the value of the queen of cryptocurrencies to climb by 20% in less than 24 hours. One of the most influential personalities on the Web is even at the origin of a real stock market war between amateur stock marketers and large investment funds.

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