Elon Musk is not almighty

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(Edited)

Twitter/X Post about Diablo IV

This morning I woke up and saw this post by Elon Musk about the Game Diablo IV:


Blizzard Website

My first thought was that this will significantly boost the company behind the game which is Activision Blizzard. Like before when he tweeted about Dogecoin or Bitcoin. Remember? Sometimes he only posted a picture of a dog and people began to buy Dogecoin like crazy. Or when he/Tesla announced in 2021 that they will accept Bitcoin payments, the price jumped upwards. But well, see yourself, I checked the Activision stock after Wall Street opened this afternoon:

Influence weakening?

Literally no visible effect, despite the tweet got >10 million views and over 60k likes. And the Activision stock is not red because the market is having a bad day! The S&P is green today with +0.7%.
Of course Elon Musk still has a lot of reach with 150 million followers but his influencing impact, at least when it comes to these kind of investment related things, seems to have weakened. He is not almighty if you want to put it that way. At least that is my impression.

What do you guys think? Just a random thing or has Elon Musk‘s influence lost some impact?

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15 comments
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Influencing the crypto market is still a lot easier than the stock market. A stock like Activision Blizzard has immense volume, so a reach of 150 million people doesn’t even make a dent in the graph. Reaching 100 hedge fund managers and influencing them, that would be a different story

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Yeah, that’s right. 👍🏻
Activision is 10x the market cap of Dogecoin. Still, if Dogecoin goes up 20-30% because of a Musk tweet, the stock should at least bounce a bit, 1-2%. 🤷🏼‍♂️

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Hmm
I would not say Elon Musk lost some impact but I believe that people are becoming smarter in the cryptocurrency world and they are making their researches instead of following tweets of Elon Musk and others...

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It is surprising that until today people have put money into the thing that this guy has named and we have seen its price go up a lot, but now we are seeing that people are buying it. Because of the loss of faith from the top, we did not see the price going up.

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This seems to show that his tweet has not done any major impact on the mentioned stock. Or perhaps, people are learning?

By the way, thanks for your content and may I recommend reading this article on how to do it better to be eligible for LEO curation.

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Thanks for your comment! Regarding Leo curation „guidelines“, is there anything in particular that could be improved in the post?
Thanks and kind regards
Thomas ✌🏻

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You're welcome.

Post length for one :) Although it has been considered.

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Ah ok. Yeah, I tend to taylor the post length to the topic/news I am writing about. 😅👍🏻

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I believe is a more mature market that is hard to manipulate with less volatility. You can trade stocks only during business days.

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Hm, I don't really know, but I think, that is healthier this way. Big influence of one person is never Okay

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