Kopiko sees stocks jump after Elon Musk shows support

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Indonesia confectionary brand Kopiko has seen a 7.3% jump in stocks after a video of Tesla chief Elon Musk trying out the coffee-flavoured can circulated on Twitter. According to The South China Morning Post (SCMP), the video was taken about a week ago, when Indonesia’s minister of maritime and investment affairs Luhut Pandjaitan met with Musk in Texas to talk about Indonesia's efforts to develop the electric vehicles battery industry and investment opportunities in the sector.

Pandjaitan had offered Musk a pack of Kopiko, and the video showed Musk trying the candy for the first time and later showing his approval for the candy with two thumbs up. Netizens flooded twitter with pictures of their own Kopiko treats as well, along with the hashtags #elonmusk and #kopiko.

https://twitter.com/shanewville/status/1520476758084100099

https://twitter.com/FlyN_Hawaiian14/status/1523886599263510528

Separately, Kopiko saw its stock jump last year as well when the candy made a brief cameo in a Korean Drama series, Vincenzo. According to SCMP, fans from Indonesia and the Philippines shared stills of the placement on social media. Kopiko, owned by Mayora Indah, was established in 1982 and is currently available in over 80 countries

Musk is also no stranger to headlines. Recently he took over global media headlines after Twitter agreed to sell the company to him for US$44 billion cash. The deal is expected to close later this year. This comes after Musk proposed to buy the social media company over the Easter weekend for US$54.20 per share. Twitter CEO Parag Agrawal said during a meeting on 25 April that there will be no job cuts at the moment but Twitter is freezing all hiring activities until the deal is done.

Musk has been vocal about wanting to turn Twitter into a platform that strongly supports free speech. Musk said he would make changes to Twitter include softening the platform's stance on content moderation, shifting its business model to focus more on subscriptions, including an edit button for tweets, providing authentication checkmarks to users who pay for subscription service Twitter Blue, and taking the social media company private, The Wall Street Journal reported. Musk also added that he aims to increase Twitter’s revenue to US$26.4b by 2028 and, more recently, that he plans to reverse Twitter's ban on Donald Trump.

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