Wednesday 2 June 2021 8:11 am

Shark bait: Elon Musk tweet sends Baby Shark shares soaring

Shares in a major investor in the company behind Baby Shark soared today after Elon Musk took to Twitter to say the viral kids’ song “crushes all”.

Samsung Publishing saw its shares climb as much as 10 per cent following the tweet to their highest level in more than a month.

The South Korean company is the second biggest investor in Smart Study, which produced the wildly popular Baby Shark Youtube video.

It came after Musk tweeted a link to the video during Asian trading hours, accompanied by the comment: “Baby Shark crushes all! More views than humans.”

It is the latest example of the outspoken billionaire’s ability to move markets when he tweets to his more than 56m followers on the social media platform.

The so-called Elon effect has sparked wild movements in crypto assets such as Bitcoin and Dogecoin, as well as equities including so-called meme stocks.

Baby Shark, a one-and-a-half minute children’s song about a family of sharks, became a Youtube sensation in 2018.

It is now the most-watched Youtube video of all time with almost 8.7bn views.