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Elon Musk’s “Use Signal” SOS and What’s Happening now

Elon Musk’s two-word app recommendation on Jan 7 turned into a massive rally in the shares of a medical device company, in the latest 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.

Elon Musk's 'Use Signal' Post Spurred Massive Rally For The Wrong One

“Use Signal,” Elon Musk wrote on Twitter apparently referring to the encrypted messaging service.2

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.

Despite reports about the confusion on Friday, the stock has continued to rally. Shares of the Rosharon, Texas-based company surged as much as 885% on Monday before paring the gains.

“We strongly recommend people do their due diligence and always invest with care,” the company’s chief executive officer, Dr. Chris Hymel, said when reached by phone on Monday. Signal Advance doesn’t have an association with Musk or the Signal app, he said.

Abhishek Shah

Senior Editor at TechMantle Technology Writer, Entrepreneurship, Business, IoT, Management

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