- Tesla and SpaceX CEO Elon Musk tweeted on Tuesday that he “stayed out of Twitter for a while”.
- Gamestop, Etsy and a Japanese video game maker saw share gains after Musk’s recent tweets.
- This is not the first time that Musk says he will take a break on Twitter. He also said he was moving away in June 2020 – he came back two days later.
- Visit the Business Insider home page for more stories.
Billionaire Elon Musk, whose tweets impacted the stock market last week, announced on Tuesday that he would take a break on Twitter.
“Out of Twitter for a while”, Musk tweeted to its 44.8 million followers, but gave no further details.
This break may not last long. The last time Musk announced he was moving away from Twitter was in June – he was gone for two days. In 2019, he said he was leaving the social media site to return three days later.
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Recent tweets from the CEO of SpaceX and Tesla have had a major impact on the stock market. On Sunday, Musk tweeted that he was “at the Clubhouse tonight at 10 pm Los Angeles time. “Clubhouse Media Group’s stock skyrocketed and rose by about 45% on Monday – although this is not the company that Musk tweeted about. He was referring to the privately owned Clubhouse audio app, known for hosting the Vale do Vale. Silicon leaders and celebrities.
Bitcoin rose by 15% on Friday after Musk added “#bitcoin” to his Twitter bio. Musk later posted a tweet saying, “In retrospect, it was inevitable.”
Gamestop’s shares exploded another 157% on Wednesday, January 27, after the technology billionaire tweeted “Gamestonk !!” in after-hours trading on Tuesday.
The Etsy online market grew about 3.5% on January 26, minutes after Musk tweeted “I kind of love Etsy,” adding that he bought a handmade wool helmet ‘Marvin the Martian’ for his dog.
And on January 13, the shares of Japanese video game maker Bandai Namco jumped 4% after Musk tweeted a meme that included a character from one of his games. “Hey, you … Yes, your Queen … You will make it!” it tweetedadding heart emojis.