Signal Advance (SIGL) shares closed up 438.25% at 60 cents on Jan. 6. One day later, the company’s shares shot up 527% to $3.76 — until apparent ticker confusion amplified the move of the over-the-counter market.
More detail about the company
The share price of Signal Advance, Inc. (SIGL) has increased substantially in the last week.
It has been stated by various financial publications as well as by the Company that SIGL and the “Signal” platform referred to by Elon Musk have caused a sudden and unexpected rise in stock price.
Meanwhile, Signal (SIGL), an open-source messaging platform, launched in 2014 by the Signal Foundation and Signal Messenger, has seen its popularity soar during periods of political unrest.
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Although Signal, the messaging platform, isn’t a publicly-traded company, its unrelated subsidiary, Signal Advance, soared 5,643% and increased its market value from a mere $55 million to $3.164 billion.
There’s a bit of a paradox here because many news articles have highlighted that Signal Advance is not Signal, but the latter’s shares are refusing to tumble back down to earth.
Users seeking access to Signal Advance’s website on Monday saw this message: “The website is temporarily unable to service your request due to resource limitations. Please try again later.”
This kind of investor enthusiasm to earn a quick profit on a micro-cap company, simply based on a tweet from the world’s richest person amidTesla’s wild rally this year, underscores the frothy nature of markets right now.