Investing
Elon Musk Told Twitter to 'Use Signal.' Investors Plowed Into the Wrong one
- Signal Advance rally boosted market valuation to $46 million
- Musk’s tweet apparently referred to Signal messaging service
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A two-word app recommendation from Elon Musk has turned into a massive rally in the shares of a tiny medical device company in another case of mistaken identity.
“Use Signal,” the Tesla Inc. chief executive officer wrote on Twitter on Jan. 7, apparently referring to the encrypted messaging service. By the end of the day, Signal Advance Inc. shares had surged more than sixfold. That was enough to push Signal Advance’s rally more than 5,100% in three trading days giving it a market valuation of $390 million.