Hasbro stock gets a boost from Elon Musk

Key takeaways

Hasbro stock rose 2% after Elon Musk tweeted that he might consider buying the company.
Musk has taken issue with some of the content of the latest Dungeons and Dragons book that distanced Hasbro from the original creator of the franchise.

Hasbro The stock appears to have received a boost from recent suggestions that Elon Musk is considering buying the company. It is currently unclear whether Musk is seriously considering a Hasbro acquisition.

The billionaire entrepreneur has recently taken issue with some of the content Build Dungeons and DragonsA book released as part of Hasbro's 40th anniversary celebration DnD suffrage A section of the book labels the original iteration DnD As containing “insensitive and offensive” language that may be harmful to women, minorities and certain other groups. The passage appears to have upset Musk, who suggested as much in a Nov. 22 tweet, “No one is going to trash E. Gary Gax and the geniuses he creates. Dungeons and Dragons.” referring to Hasbro and its subsidiary, Wizards of the Coast, which publishes DnD The media, he added: “May they burn in hell.”

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Six days later, Musk suggested buying Hasbro by publicly inquiring about its value on Twitter. The comments may have boosted the company's stock, which was up two points in a short trading session on Nov. 29, after Thanksgiving. Although the stock's volatility is driven by many factors, the fact that the world's richest man expressed interest in Hasbro had a material impact on the company's current share price. Specifically, Musk's tweet added more than $160 million to Hasbro's market cap. It remains to be seen whether this price will hold steady after trading resumes on December 2.

The Hasbro acquisition gives Musk control of more than just DnD

Acquiring Hasbro would give Musk more control than just that Dungeons and Dragons. Also owns a Rhode Island-based company Magic: The Gathering, transformer, Monopoly, Peppa Pig, Power Rangers, my little ponyand CluedoAmong many other popular franchises. While the billionaire entrepreneur hasn't detailed any concrete acquisition plans, his public musings about buying Hasbro shouldn't be dismissed. Musk's acquisition of Twitter began in a similarly low-key manner and seemed uncertain until it finally came to fruition.

The current situation is linked to Musk's recent announcement that he wants to start an AI game studio. Taking to Twitter on November 27, the 53-year-old claimed that “big corporations” own “too many game studios” these days. Due to this situation, he announced that his xAI company is going to start an AI game studio to “make games great again”. Musk didn't elaborate on what that actually means.

Source: Elon Musk / Twitter