Elon Musk is once again making headlines for his Twitter use, with Shopify Inc., the latest beneficiary.
The billionaire of Tesla Inc. tweeted late Thursday that the e-commerce software company is ‘great’ in response to comments from another user, which boosted Shopify’s inventory to 3.5% in late trading in New York.
Musk strengthened the shares of at least half a dozen companies this month after posting on Twitter, where the Tesla CEO has more than 43 million followers. The recipients of Musk’s touts include Polish video games producer CD Projekt SA, a Japanese toy company and the online market Etsy Inc.
Tesla did not immediately respond to a request for comment.
Musk’s penchant for Twitter has gotten him into trouble before. He was sued by the U.S. Security and Exchange Commission in 2018 over posts about a plan to take Tesla private, eventually agreeing to a settlement with a $ 20 million fine and a requirement that he relinquish his role as chairman.
According to a more than 700% increase in Tesla shares last year, Musk is becoming the richest person in the world, with a fortune of more than $ 199 billion. Bloomberg Billionaires Index.