Talk about a case of mixed signals.
On January 6, the shares of Signal Advance SIGL,
closed at 60 cents a share, a solid gain for the Rosharon, Texas-based biotechnology company, formerly known as the Biodyne Development Company.
A day later, on Thursday, the company’s stock rose 527% to $ 3.76 – and then everyone lost, after the apparent ticker confusion amplified a move from the over-the-counter bond to ether. The increase came after Tesla Inc. TSLA,
CEO Elon Musk recommended that people “use the signal” by switching to Twitter’s Signal encrypted messaging platform TWTR,
and Facebook FB,
after the Sturm und Drang on politics and social media platforms after the Capitol riots last week.
Signal, the messaging platform, is not a publicly traded company, but that did not stop Signal Advance from continuing its rise, rising 5.643% and pushing its market value to $ 3.164 billion from a mundane $ 55 million last Wednesday -market.
The change was so powerful that the messaging service weighed in on Friday:
The curious thing is that a lot has been done about the fact that Signal Advance is not Signal in a series of news, but the shares of the first refused to return to Earth and enjoyed an increase of almost 400% on Monday.
The Signal Advance website appeared to be down on Monday, and those seeking access to it received this message: “The website is temporarily unable to fulfill your request because it has exceeded the resource limit. Please try again later.”
A call to the company, which was founded by Chris M. Hymel in 1992, via FactSet, was not returned immediately.
Meanwhile, the Signal messaging app introduces itself as an open source service developed by the Signal Foundation and Signal Messenger around 2014 and saw the number of users increase during periods of political upheaval.