- Warren Buffett and Elon Musk are shifting the market this year.
- Berkshire Hathaway’s bet on Verizon and Chevron drove these two stocks this week.
- Musk’s tweet canceled GameStop, Dogecoin, Etsy, Bitcoin and other assets.
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Warren Buffett (Warren Buffett) is known for its decision and moving market, because many investors trust Berkshire Hathaway (Berkshire Hathaway) CEO’s judgment and race to buy their own products and Competition to sell the goods they sell.
Other investors expect this kind of behavior and will preempt Buffett by buying and selling to make this process somewhat self-fulfilling.
Tesla CEO Elon Musk has demonstrated similar capabilities in recent weeks, with his tweets driving the rapid development of stocks and cryptocurrencies.
After the market was closed on Tuesday, after Berkshire Hathaway disclosed the billion-dollar shares of Verizon, Chevron and Marsh & McLennan, “Buffett Bump” was on full display this week. The telecommunications giant’s share price rose by 5% on Wednesday, while the energy giant and financial services group’s share price rose by about 3%.
This rally will increase the total market value of the three companies by approximately $19 billion.
Similarly, there are “musk moves” in many securities this year. Tweets from the head of Tesla about GameStop, Dogecoin and Etsy helped-at least temporarily-push up prices.
Musk’s tweets about encrypted messaging app Signal and the technical song “Sandstorm” have been linked to the rise of completely unrelated securities.
In addition, Tesla bought Bitcoin at a price of $1.5 billion this month, which is a key catalyst for the latest rise in the digital currency. Musk’s recognition is hailed as a milestone in mainstream acceptance of cryptocurrency.
Obviously, Buffett’s support continues to translate into billions of dollars in the company’s market value. He is subject to competition from Musk, whose approval seal has a similar impact on the market, albeit not precisely and consistently.