Although Elon Musk joked about buying the English soccer team Manchester United, the Tesla CEO has a history of influencing stock and crypto market valuations through his tweets.
Yahoo Finance anchors discuss Elon Musk joking on Twitter about buying Manchester United and how it sent the stock higher.
While the U.S. securities regulator is likely to examine Elon Musk's tweet in which he joked about buying New York-listed soccer club Manchester United, legal experts say that on its face the crack is unlikely to land him in hot water. Musk, the world's richest person, briefly lifted the gloom over the club's shares by tweeting on Tuesday: "I'm buying Manchester United ur (sic) welcome," to his 103 million followers, adding later that it was a "joke." Even so, the 51-year-old Tesla CEO's musings ignited Manchester United shares, which briefly jumped as much as 17% in after hours trading before ending Wednesday at $13.67, up nearly 7% on Tuesday's close.