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Home » News » Elon Musk tweeted “Use Signal” – Wrong company price rose 11,700%

Elon Musk tweeted “Use Signal” – Wrong company price rose 11,700%

January 13, 2021

Elon Musk has tweeted Thursday 7.1. two words: “Use Signal”. By this, he referred to an instant messaging app called Signal, whose popularity has skyrocketed earlier in the year after Whatsapp announced an update to the Terms of Use.

However, Musk is currently the richest man in the world, apparently with his own side effects. Even small clues in his words are interpreted with a magnifying glass – and his words are also misinterpreted.

The New York Stock Exchange saw a comic play in recent days when Signal Advance The price of a medical technology company called was rocketed like a rocket due to a misunderstanding. According to CNBC the share price exploded on wednesday 6.1. from a meager 60 cents to as high as $ 70.85 on Monday. Thus, the exchange rate rose about 118 times, or 11,700 percent.

On Tuesday, the rate finally collapsed. This is probably due to the release of Signal Advance the night before Tuesday stock exchange release, where the company explains that it has nothing to do with the messaging app or Musk’s tweet. The messaging application Signal explained the misunderstanding on its own as early as Friday.

At the time of writing, the company’s price on the New York Stock Exchange was nonetheless Market Watchin according to about $ 16, or nearly 27 times the original.

Signal Advance reported on the price increase already on Friday Helsingin sanomat newspaper, which referred to previous CNBC news. At the time, the rate was only just over $ 7.


Source: Tivi by www.tivi.fi.

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