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Investors have inflated the share price of another company mentioned by Elon Musk. And they got it all mixed up again
We have already seen many times how after the head of Tesla and SpaceX Elon Musk mentioned a brand, the price of its shares begins to rise. This was the case with Bitcoin, the Signal messenger, the GameStop chain of stores, and this time the so-called “Elon effect” touched the Clubhouse social network.
After Elon Musk wrote on his Twitter account on Sunday about his intention to answer questions from users of the Clubhouse social network via audio conference on February 1, the value of shares of the company with that name increased by more than 100%. The problem is that investors confused the Clubhouse social network with the Clubhouse Media Group, whose shares began to be actively bought up.
The source notes that Clubhouse Media Group is a company that provides various types of medical services and a few years ago was called Tongji Healthcare Group. In August last year, the company acquired the owner of the TikTok-houses network The Clubhouse represented by West of Hudson Group Inc. Thus, the company, whose value doubled on Monday, has nothing to do with the Clubhouse app launched in 2021.