Shares of Signal Advance have soared as much as 11,708% since Tesla CEO Elon Musk tweeted “Use Signal” to his 42 million followers on Thursday.
Investors seem to have confused Signal Advance with the encrypted messaging platform that Elon Musk was advocating his followers to use, Signal.
Signal Advance is a micro-cap technology stock that trades on the OTC market. Nonetheless, shares of Signal Advance soared from $0.60 just before Musk’s tweet on Thursday to as high as $70.85 on Monday.
Signal Advance’s market capitalization soared from $6 million last week to nearly $300 million today. Shares climbed as much as 885% on Monday.