Appearances by executives at companies traded on CNBC or other business-related news channels can sometimes move stock prices. If a show airs outside of trading hours, it can sometimes be less effective than the share price.
That raised the question of whether Elon Musk’s upcoming appearance on Saturday Night Live could have an impact on his company’s share price the following Monday. But also cryptocurrency trading during the broadcast.
What happened: Musk, CEO of Tesla Inc. (NASDAQ: TSLA) is scheduled to appear as host of “SNL” on May 8.
Musk is likely to be too cautious about mentioning specific electric car companies because of the Securities and Exchange Commission̵7;s watchful eye.
The Tesla CEO can feature a stunt and parody that looks at electric vehicles, landings on the moon, or even Dogecoin, the meme coin Musk loves to promote on Twitter.
The electric car company reported first-quarter results earlier this week.
See also: How to buy Dogecoin (DOGE)
Why is this important: The show aired on NBC Comcast Corporation (NASDAQ: CMCSA) broadcasts outside of Tesla stock trading hours, depending on the nature of Musk’s gain or what it said about Tesla, the stock may see a reaction on Monday, May 10, when the market resumes.
Cryptocurrency There is a huge difference as the market never sleeps and Dogecoin can be traded throughout the show.
If Musk mentions Dogecoin or has made some panic moves to talk about the meme coin, it’s very likely the valuation could trigger a spike.
Related link: 5 Things You Might Not Know About Elon Musk
Dogecoin owners and fans gathered around April 20 as “Doge Day” to try and make the cryptocurrency stand out and bring the coin’s price to key levels such as $ 0.69 and $ 1.
Both levels failed, and no new events were seen for the Doge community to rally around Musk’s presence as an event to keep Dogecoin trending higher and trading higher.
A tweet from Musk saying “The Dogefather” and “SNL” on May 8 sent Dogecoin up 8% on Wednesday.
Price action: Dogecoin was trading at $ 0.3293 at the time of writing, Tesla shares closed at $ 709.23 on Friday.
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