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Elon Musk’s Meme Instantly Increases A Gaming Company’s Stock Value

| Published on January 18, 2021

Elon Musk has now become the richest man in the world and has been making most of it ever since. While Musk’s recent tweet shot up Signals ranking on the app store after WhatsApps privacy policy release, the tech-billionaire has now done the same for a Japanese game.

Idolmaster‘s stock price shot up to the roof as soon as Elon Musk tweeted a meme with the game’s character in it. Idolmaster is a video game franchise developed by Bandai Namco. It first began as an arcade game. Since then it has grown to take on the large mobile universe.

The shares of Bandai Namco Holdings Inc. rose 4.4% in Tokyo on Wednesday following a meme going viral.

Bloomberg’s senior editor Gearoid Reidy told fans the stock push was tied to Musk’s tweet.

While the origins of the meme are unclear, as is whether or not Musk was aiming his comment at anyone specific. Bandai Namco has witnessed an increase in its shares consistently through the year 2020.

Therefore it cannot be said that it was Musk’s tweet after all that hiked the game’s stock prices.

Masayuki Otani, chief market strategist at Securities Japan Inc has stated, “It’s quite a surprise to discover that despite his busy schedule, Musk is familiar with this Japanese game character. Musk’s tweet could heighten awareness of the company’s games and characters overseas.

As reported by Hindustan Times, Musk, a prolific tweeter, is well known for his references to Japanese pop culture. He commented in 2018 about his fondness for the hit anime movie “Your Name” and the Ghibli film “Princess Mononoke,” and jokingly asked to be referred to as “Elon-chan.”

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