Elon Musk is making headlines again for his Twitter use, with Shopify Inc. the latest beneficiary.
The Tesla Inc. billionaire late Thursday tweeted that the e-commerce software company was “great” in response to another user’s comment, sending Shopify’s stock up as much as 3.5% in late trading in New York.
Musk has boosted the shares of at least a half-a-dozen companies this month after posting on Twitter, where the Tesla chief executive officer has more than 43 million followers. Recipients of Musk’s touts include Polish video-game maker CD Projekt SA, a Japanese toy company and the online marketplace Etsy Inc.
I use Shopify now. Etsy is great but I love the flexibility of designing my own page that Shopify provides. I’m happy with it😀
— Johnna Crider (@JohnnaCrider1) January 28, 2021
Tesla didn’t immediately respond to an email seeking comment.
Musk’s fondness for Twitter previously got him into trouble. He was sued in 2018 by the U.S. Securities and Exchange Commission over posts about a plan to take Tesla private, eventually agreeing to a settlement that included a $20 million fine and a requirement that he relinquish his role as chairman.
A more than 700% rally in Tesla shares last year help make Musk the world’s richest person, with a fortune exceeding $199 billion, according to the Bloomberg Billionaires Index.