Elon Musk Tweets Inspire Investment Decisions Of 37% Americans: Survey

About 37% of Americans have made investments, or at least considered such moves, based on tweets from Tesla Inc. TSLA CEO Elon Musk, a survey conducted by Piplsay has found.

What Happened: The survey was conducted nationwide in the U.S. between Feb. 6 and Feb. 8 and received 30,400 responses from adults.

Forty-eight percent of the participants described the billionaire entrepreneur as "Genius," 22% said they find him funny, while another 12% said they would describe him as a "madman" in a good way. Seven percent of the respondents said Musk was a "jerk" in their view.

Twenty-three percent of respondents said they follow Musk's tweets "very closely," 20% said "closely," while 36% of the respondents said they didn't follow his tweets at all.

Musk is also more idolized by men at 69%, while 31% of women consider him their idol.

Why It Matters: Musk’s tweets have often led to wild swings in the price of assets, and joke cryptocurrency Dogecoin DOGE/USD has been prime among the Tesla CEO’s interests of late.

The entrepreneur, who also leads SpaceX, Neuralink, and The Boring Company, has also moved the stocks of GameStop Corp. GME, Shopify Inc. SHOP, and Etsy Inc. ETSY with his tweets.

Musk’s Twitter followers have even sent the prices of assets — unrelated to the ones he is talking about — soaring due to confusion. 

A penny stock Signal Advance SIGL went skyrocketing when Musk publicly backed privacy-focused messaging app Signal.

Marscoin MARS/USD similarly benefited from Musk’s tweet where he said a cryptocurrency called “Marscoin” would be launched, possibly unaware of the fact that an asset by that name already existed.

Price Action: Tesla shares traded 0.2% higher at $675 in the pre-market session Tuesday.

Photo courtesy of JD Lasica via Flickr