Elon Musk, Tesla CEO urged his Twitter followers on Thursday to “use Signal,” the encrypted messaging app.
Shares of an obscure and unrelated company called Signal Advance, which trades over the counter, surged 6500%, climbing from 60 cents to $38.
The Signal that Musk was referring to is operated by a nonprofit and serves as an alternative to texting apps like WhatsApp and this has nothing to do with Signal Advance.