Another case of wrong identity has led to a penny rise in the last few trading sessions.
What happened: Signal in advance (OTC: SIGL) marked a jump in its share price on Monday as traders and algorithms confused the company with an application.
The signal, a private messaging service, has seen a large number of new downloads since the crackdown Twitter Inc. (NASDAQ: TWTR), Facebook Inc. (NASDAQ: FB) and Parler.
Last week, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk told his Twitter followers to “use Signal” and mentioned that he donated to Signal a year ago and will donate in the future.
WhatsApp has announced that it will no longer allow users to opt out of sharing data with parenting Facebook. Signal is the co-founder of WhatsApp co-founder Brian Action.
SIGL Price Action: Shares of Signal rose 438% on Monday to $ 38.70. Shares were below $ 1
Related link: Music industry Penny Stock Spikes 874% in case of wrong identity
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