Warren Buffett and Elon Musk are shaking up markets this year. Here’s a look at the ‘Buffett Bump’ and the ‘Musk Move.’

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Warren Buffett (left) and Elon Musk (right). Alex Wong/Getty, REUTERS/Rebecca Cook Warren Buffett famously moves markets with his decisions, as many investors trust the Berkshire Hathaway CEO's judgment and race to buy what he's bought and sell what he's sold. Other investors anticipate that behavior and rush to take advantage by buying or selling before the Buffett faithful, making the process somewhat self-fulfilling. Tesla CEO Elon Musk has showcased a similar ability in recent weeks, driving stocks and cryptocurrencies skyward with his tweets. The "Buffett Bump" was on full display this week after Berkshire disclosed multibillion-dollar stakes in Verizon, Chevron, and Marsh & McLennan after markets closed on Tuesday. The telecoms titan's stock price jumped 5% on Wednesday, while shares in the energy giant and the financial services group rose about 3%. The rallies added about $19 billion in total to the three companies' market capitalizations. Similarly, there have been "Musk Moves" in numerous securities this year. The Tesla chief's tweets about GameStop, Dogecoin, and Etsy...read more...