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Benzinga
Benzinga
Business
Kevin Vandenboss

Is Following Elon Musk A Viable Investment Strategy?

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk moved markets again with his purchase of a 9.2% stake in Twitter Inc (NYSE:TWTR). News of Musk’s investment pumped Twitter’s share price up about 30% as of market close on Monday.

This isn’t the first time Musk has sparked major price movements in companies he’s shown interest in. On January 26, 2021, Musk posted a one-word tweet “Gamestonk!!” with a link to the r/wallstreetbets subreddit, causing the GameStop Corp’s (NYSE:GME) already inflated share price to soar another 50%.

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