Put simply, Signal is a simple, powerful, and secure messenger app. Nevertheless, fans of the South-African billionaire and current world’s richest man title holder, find themselves returning to the initial question – What is Signal? The real Signal app, not the manufacturing company, we mean. That figure has returned to normality slightly in the hours since, buoyed by a sense of regret and an overwhelming sense of buyer’s remorse. Momentum continued to swell even further yesterday, pushing the closing price to $38.70, an increase of 6,350% over three trading sessions. Due almost entirely to investor confusion, the stock closed at $3.76 on Jan. Hilariously, shares of ‘Signal Advance’, a completely unrelated technology component manufacturing company headquartered in Rosharon, Texas skyrocketed after the tweet early on January 7.Īccording to Quartz, prior to Musk’s tweet, shares of Signal Advance hadn’t climbed above 60 cents. The platform is developed by a non-profit, the Signal Foundation and is not a publicly traded company, meaning fans who rushed to purchase a piece of the pie found themselves clambering for shares in a totally different enterprise. In fact, accoring to Gizmodo, a group of hackers have successfully archived “99 per cent” of the site’s public contents, which hacker said includes a trove of “very incriminating evidence of who participated in the Capitol raid”.įor Musk fans who took the tweet as an invitation to jump on Signal as an alternative, they missed the mark entirely. It comes as news breaks surrounding the beleagured Parler app, which was revealed to have been embroiled in a data breach, following some contentious ties to the failed Capitol Building Coup. What is Clubhouse? The Exclusive Social Media App Backed by Your Favourite CelebrityĪccording to reports, Musk was likely referring to Signal, the encrypted messaging service and WhatsApp alternative. It’s the wrong business.Įlon Musk is Officially the World’s Richest PersonĮlon Musk is Legitimately Selling Tesla Short Shorts for $69.420 Texas-based ‘Signal Advance Inc’ has just seen their share price skyrocket by over 1,000% thanks to a tweet by none other than guerilla marketing expert and Tesla chief-meme-lord himself Elon Musk. Now, following Musk’s tweet and the roller coaster ride its stock price has been on in recent days, Signal Advance is worth about $1.75 billion on Tuesday morning.Remember the age-old saying ‘buy whatever Elon Musk tweets about’? You might want to reconsider. On Tuesday morning, Bloomberg had his net worth pegged at $194 billion. At the same time, Musk’s personal net worth has skyrocketed, pushing him past Amazon CEO Jeff Bezos as the richest person in the world. The electric car maker has seen its stock price surge more than 700% since the start of 2020, making Tesla, with an $820 billion market cap, one of the five biggest publicly traded companies. The mix-up is a sign of Musk’s sway over the market right now, following Tesla’s remarkable run over the last year. He was likely referring to the app Signal, which allows users to share encrypted messages - not Signal Advance, the Texas-based medical supplies company.Īlso Read: Elon Musk Rockets Past Jeff Bezos as World's Richest Person Even after a 50% drop on Tuesday morning, the company’s stock price is still up 3,092% since the Tesla head honcho’s tweet, currently hovering near $19.15 per share on Tuesday morning.īut here’s the thing: Musk didn’t mean that Signal. The tweet sent investors scrambling for shares of Signal Advance Inc., with the company’s stock price spiking from 60 cents per share last week to $38.70 on Monday. Signal’s stock price has soared over the last few days after Elon Musk, the world’s richest man, tweeted “Use Signal” last Thursday.
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