Saturday Night Live ratings jumped
33%
as Elon Musk made his appearance on America’s most popular comedy show. The tech-entrepreneur covered a wide range of topics including
Tesla Inc. (NASDAQ: TSLA)
, SpaceX, Generation Z, Nintendo’s Wario, and of course
Dogecoin (CRYPTO: DOGE-USD)
. While some argue over the quality of humor during the episode, there were some takeaways from Musk’s appearance that held ramifications for investors.
SNL’s ratings could’ve been even higher than they looked on the surface, as for the first time ever, the show was live streamed on Youtube in over
100
countries. Additionally, a number of Tesla rivals took the opportunity to advertise their competing electric vehicles during the show. This included
Ford’s Mustang Mach-E
,
Volkswagen’s VW ID.4
, and
Volvo’s XC-90 hybrid
. Lucid Motors also showcased its new
Lucid Air
, set to release later this year. Lucid seeks to become Tesla’s top competitor as its new vehicles will have a starting price of
USD 77,400
and boast a
500-mile battery range
,
surpassing Tesla’s current range.
Rather than focusing on Tesla’s market, most investors were rather looking forward to what Musk would say in regards to Dogecoin or cryptocurrency in general. Elon Musk made headlines when Tesla purchased
USD 1.5 Billion
in Bitcoin back in February. Since then, many of his statements, mostly tweets, have sent the prices of crypto into a frenzy, especially Dogecoin which prior to SNL hit an all time high of
USD .70
. Many investors retain high hopes for the meme-based currency to eventually reach
USD 1
. However, after Musk jokingly stated over a segment that Dogecoin was “
a hustle
”, its price fell
36%
to roughly
USD .41
hours after the show.
The post
The Impact Elon Musk’s SNL Appearance Had on the Market
first appeared on
Financial Buzz
.
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