Name: Why an Elon Musk tweet led to a 5,675% surge in Signal Advance's stock
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Why an Elon Musk tweet led to a 5,675% surge in Signal Advance's stock

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Talk about a case of mixed Signals. On Jan. 6, shares of Signal Advanceclosed at 60 cents a share, a solid gain for the Rosharon, Texas-based biotechnology company formerly known as Biodyne Development Company.A day later, on Thursday, the company’s shares surged 527% to $3.76 — and then all heck broke lose, after apparent ticker confusion amplified a move in the over-counter-traded security into the ether. The surge came after Tesla Inc.CEO Elon Musk recommended that people “use signal,” shifting to the encrypted-messaging platform Signal from Twitterand Facebookfollowing the Sturm und Drang over politics and social-media platforms after the riots on Capitol Hill last week.Signal, the messaging platform, isn’t a publicly traded company, but that didn’t stop the unrelated Signal Advance from continuing its rise, surging 5,643% and pushing its market value to $3.164 billion from a mundane $55 million as of last Wednesday. The move was so powerful that the messaging service weighed in on Friday:The curious thing is that much has already been made about the fact that Signal Advance isn’t Signal in a number of news articles, but the former’s shares have refused to return to Earth and enjoyed a nearly 400% surge on Monday.Signal Advance’s website appeared to be down on Monday, with those seeking access to it getting this message: “The website is temporarily unable to service your request as it exceeded resource limit. Please try again later.” A call to the company, which was founded by Chris M. Hymel in 1992, per FactSet, wasn’t immediately returned. On Tuesday, the stock was succumbing to gravity after the blistering uptrend, down by about 60%. Meanwhile, the messenger app Signal bills itself as an open-source service developed by the Signal Foundation and Signal Messenger around 2014 and it has seen usership pick up during periods of political upheaval.Some market watchers are nervous.SearchVisit a quote page and your recently viewed tickers will be displayed here.Search TickersNo results found

Talk about a case of mixed Signals. On Jan. 6, shares of Signal Advanceclosed at 60 cents a share, a solid gain for the Rosharon, Texas-based biotechnology company formerly known as Biodyne Development Company.A day later, on Thursday, the company’s shares surged 527% to $3.76 — and then all heck broke lose, after apparent ticker confusion amplified a move in the over-counter-traded security into the ether. The surge came after Tesla Inc.CEO Elon Musk recommended that people “use signal,” shifting to the encrypted-messaging platform Signal from Twitterand Facebookfollowing the Sturm und...

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Why an Elon Musk tweet led to a 5,675% surge in Signal Advance's stock

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