Confused investors are running up shares of Clubhouse Media, now the TikTok-house backer wants to clear things up

Confused investors are running up shares of Clubhouse Media, now the TikTok-house backer wants to clear things up

It was a phrase that has been uttered countless times during the era of Zoom meetings. But this time, it inadvertently sent an unknown stock to new heights: "Can you hear me?"Elon Musk was making his debut on Clubhouse, the audio-only app that has exploded in popularity in recent months, in part because of Musk's participation in that room on the last day of January. Within seconds, the room reached its 5,000-person capacity. Overflow rooms crowded in to listen to the Tesla and SpaceX CEO. In the words of the room's host, Sriram Krishnan, "You've pretty much broken Clubhouse."Little did anyone know, Musk's participation would also set off massive interest in a completely unrelated company: the publicly traded influencer media and marketing firm Clubhouse Media Group, which isn't affiliated with the private, Andreessen Horowitz-backed audio app that's about a year old.At the end of the interview, Musk called the experience "awesome" and said he hadn't even known about the app a week prior. It set interest in Clubhouse ablaze. Google searches for "Clubhouse stock" reached a peak on Feb. 1, the day after Musk spoke. But instead of buying into shares of the app, retail traderswere finding the marketing and media