This wouldn’t exactly be the first time something like this happened. In 2019, investors flocked to the wrong Zoom stock during the video conferencing company’s debut on the NASDAQ; due largely to the fact that ticker code ZOOM was held by a small wireless communications operation in China, whereas the Zoom Technologies we all know and love trades under the ticker code ZM. Still, the impact experienced by old-mate Musk’s one-time blast is undeniable.
To date, the “Use Signal” tweet has accumulated over 15,500 comments, 53,400 shares – including a retweet from Twitter CEO Jack Dorsey – and a considerable 329,100 likes (plus God knows how much visibility considering total reach beyond his 42 million followers, media coverage, word of mouth, etc.). In terms of the dollar figure, the Signal Advance share price sat at just US$0.60 prior to Musk’s divine intervention, climbing as high as US$70.85 at the start of this week, and bumping its market capitalisation all the way up to US$3.16 billion.
The Signal Advance share price has since been (somewhat) corrected, currently hovering around US$38.70 at the time of this writing.