Benzinga | Mar 10, 2021 05:10AM EST

Elon Musk Tweets Inspire Investment Decisions Of 37% Americans: Survey

About 37% of Americans have made investments, or at least considered such moves, based on tweets from Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk, a survey conducted by Piplsay has found.

What Happened: The survey was conducted nationwide in the U.S. between Feb. 6 and Feb. 8 and received 30,400 responses from adults.

Forty-eight percent of the participants described the billionaire entrepreneur as "Genius," 22% said they find him funny, while another 12% said they would describe him as a "madman" in a good way. Seven percent of the respondents said Musk was a "jerk" in their view.

Twenty-three percent of respondents said they follow Musk's tweets "very closely," 20% said "closely," while 36% of the respondents said they didn't follow his tweets at all.

Musk is also more idolized by men at 69%, while 31% of women consider him their idol.

Why It Matters: Musk's tweets have often led to wild swings in the price of assets, and joke cryptocurrency Dogecoin (CRYPTO: DOGE) has been prime among the Tesla CEO's interests of late.

The entrepreneur, who also leads SpaceX, Neuralink, and The Boring Company, has also moved the stocks of GameStop Corp. (NYSE:GME), Shopify Inc. (NYSE:SHOP), and Etsy Inc. (NASDAQ:ETSY) with his tweets.

Musk's Twitter followers have even sent the prices of assets -- unrelated to the ones he is talking about -- soaring due to confusion.

A penny stock Signal Advance (OTC:SIGL) went skyrocketing when Musk publicly backed privacy-focused messaging app Signal.

Marscoin (CRYPTO: MARS) similarly benefited from Musk's tweet where he said a cryptocurrency called "Marscoin" would be launched, possibly unaware of the fact that an asset by that name already existed.

Price Action: Tesla shares traded 0.2% higher at $675 in the pre-market session Tuesday.

Photo courtesy of JD Lasica via Flickr