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.īut the stock plummeted as much as 67 percent to $12.75 on Tuesday after Signal Advance issued a press release clarifying that it’s not associated with the Signal messaging platform. The company’s stock, traded over the counter under the ticker symbol SIGL, spiked to $3.76 on the day of Musk’s tweet from 60 cents the day before. 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.īut investors instead bought up shares of Signal Advance Inc., a small, Texas-based outfit that makes devices used to detect various health problems.
Tesla wins tax breaks from China after Elon Musk’s Taiwan comments: reportĪn 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 the confusion was cleared up. Meet the no-nonsense judge who kept Musk-Twitter saga from turning into circus
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