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[TheContact]

Signal is a messaging app.
Confused investors surged a medical-device company "Signal Advance" by mistake

‘Signal’ stock surges 438 percent after Elon Musk tweet confuses traders

Talk about mixed signals! An obscure medical device company’s stock price surged more than 400 percent after Elon Musk endorsed a messaging app with the same name — only to crash Tuesday as th…

nypost.com

The bizarre rally started after the billionaire Tesla chief told his 42 million Twitter followers to “Use Signal” on Thursday, apparently referring to the mobile app that lets users exchange encrypted messages.


But investors instead bought up shares of Signal Advance Inc., a small Texas-based outfit that makes devices used to detect various health problems.


The company’s stock, traded over the counter, spiked to $3.76 on the day of Musk’s tweet from 60 cents the day before. The shares nearly doubled to $7.19 on Friday and then skyrocketed 438 percent to $38.70 on Monday despite news reports about the apparent ticker confusion.

 

[Night.Ninja]

Idiots

 

[StreetsofBeige]

LOL.

This stock looks like it started Friday, bottomed at $5. Musk's tweet made it go to $70. Now it's down to $20 (down 50% from $40 to $20 now)

 

[Jethalal]

This reminded me of:

Snapdeal is not Snapchat: Confusion costs Indian brand its image

It sparked off a boycott movement for 'Snapchat' but caught unaware in this storm was the Indian e-commerce portal 'Snapdeal'. Social media users are mistakenly downloading Snapdeal app, down rating its services and threatening to stop using it.

www.indiatoday.in

The CEO of snapchat called India poor so some idiots went to uninstall and review bomb the app but mistook it for Snapdeal, an Indian e-commerce website.

 

[GeorgPrime]

Elon trolling again? xD

 

[Halo is Back]

Epic. I love this man

 

[Pumpkin Seeds]

You need someone's phone number for signal. That seems limiting in how fast it expands.

 

[Tesseract]

 

[TheContact]

damn i miss cs 1.3-1.6

 

[OmegaHunter]

Wooooow, people would buy a stock based on message like that. lmao

 

[ManaByte]

Wooooow, people would buy a stock based on message like that. lmao

Well it was said by the richest man in the world.

 

[Mistake]

 

[SLoWMoTIoN]

Makes sense.

 

[mortal]

Wooooow, people would buy a stock based on message like that. lmao

Dogecoin

 

[V1LÆM]

Wooooow, people would buy a stock based on message like that. lmao

You think the richest person on earth doesn't have influence?

 

[Amory]

People are morons

Also the stock was trading at ~60 cents a share and somehow it's still at $10 as of today. How have people not sold yet

 

[Rat Rage]

This is a good example of how idiotic the stock market is, and that it's basically just gambling.