The appearance of a CEO of a publicly traded company on CNBC or another business news channel can sometimes change the stock price quickly. If the show airs outside trading hours, this can sometimes have a smaller effect on the stock price.
This raises the question of what effect Elon Musk’s upcoming appearance on Saturday Night Live could have, not only on his company’s stock price next Monday, but also on cryptocurrency trading during the show’s broadcast.
What happened: Musk, CEO of Tesla Inc. (NASDAQ: TSLA) will host SNL on May 8.
Musk will probably be careful to mention too many details about the electric vehicle company, given the watchful eye of the Securities and Exchange Commission.
The electric vehicle company reported earnings for the first quarter earlier this week.
See also: How to buy Dogecoin (DOGE)
Why it is important: The show, which airs on NBC from Comcast Corporation (NASDAQ: CMCSA), broadcast outside of Tesla stock trading hours. Depending on how Musk’s appearance is perceived or what Tesla says, stocks may see a reaction on Monday, May 10, when the market resumes.
The cryptocurrency is much different, as the market never sleeps and Dogecoin can be traded throughout the show.
If Musk mentions Dogecoin or makes a skete to discuss the coin meme, it’s quite possible the assessment will see a big jump.
Related link: 5 things you may not know about Elon Musk
Dogecoin owners and fans gathered around April 20 as Doge’s Day in an attempt to focus on the cryptocurrency and reach the coin’s price to key levels such as $ 0.69 and $ 1.
Both levels failed, and without seeing a new event, the Doge community could gather around the emergence of Musk as an event to increase the trend and trade in Dogecoin.
A tweet from Musk that said “The Dogefather” and the date “SNL” on May 8 sent Dogecoin 8 percent on Wednesday.
Price action: Dogecoin traded at $ 0.3293 at the time of writing. Shares of Tesla closed at $ 709.23 on Friday.
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