An unfortunate mixup yesterday result in investors piling on Signal Advance (OTCMKTS:SIGL) stock after a misunderstood Tweet from Tesla (NASDAQ:TSLA) CEO Elon Musk.
A Tweet From Musk early Thursday morning simply said “Use Signal.” His endorsement of the encrypted messaging service saw investors hungry to make a profit jump on shares of SIGL stock. There’s only one problem. Signal Advance has nothing to do with the Signal app
Signal Advance is a tech company with a focus on reducing delay in signal which rely on analog signals . That’s a far cry from anything that the Tesla CEO was talking about yesterday. Even so, more than 447,000 shares have changed hands today. That’s well above SIGL stock’s daily average trading volume of only about 10,000 shares.
So if Singal Advance has nothing to do with the Signal app, then who does? The app is the brainchild of Moxie Marlinspike and Brian Acton. Marlinspike has been involved in the encryption market for years.