Talk about a case of mixed signals.
On January 6, shares of Signal Advance SIGL,
closed at 60 cents a share, a solid profit for the Rosharon, Texas biotechnology company formerly known as Biodyne Development Company.
A day later, on Thursday, the company’s shares rose 527% to $ 3.76 – and then lost everything, after apparent confusion amplified a move in the outside-traded security in the ether. The boom came after TSLA of Tesla Inc.
Elon Musk, CEO, recommended that people “use signal” and move to the encrypted messaging platform Signal from Twitter TWTR,
and Facebook FB,
following the Sturm und Drang on political and social media platforms following the riots last week on Capitol Hill.
Signal, the messaging platform, is not an exchange-traded company, but that did not stop the unrelated Signal Advance from continuing its rise, with 5,643% and a rising market value to $ 3.164 billion from an everyday $ 55 million from last Wednesday.
The move was so powerful that the messaging service weighed in on Friday:
The strange thing is that a lot has been done about the fact that Signal Advance is not a signal in a number of news reports, but the former’s shares refused to return to earth and on Monday saw a surge of almost 400% enjoy.
Signal Advance’s website appears to be down on Monday, and those seeking access to it will receive the following message: ‘The site is temporarily unable to serve your request because it has exceeded the resource limit. Please try again later. ”
A call to the company, founded in 1992 by Chris M. Hymel, via FactSet, was not immediately returned.
Meanwhile, the messenger app Signal is paying for itself as an open source service developed by the Signal Foundation and Signal Messenger around 2014, and it has seen user numbers pick up during periods of political upheaval.