However, Musk’s suggestion to use Signal caused disruption to Signal servers as it witnessed a remarkable spike in the app downloads by the new privacy-conscious users. When Musk asked people to use Signal, he was referring to the Signal messaging app which is operated by a nonprofit organisation and serves as an alternative to texting apps such as Whatsapp, Facebook Messenger, Telegram and others.
In a matter of two days, the share price of Signal Advances, which was earlier hovering around 60 cent mark, rose to $ 7.19. However, little did he may have imagined that his tweet would set off a massive buying in an unrelated stock with a similar name.įollowing Musk’s tweet exhorting his followers to use the open-source app Signal, share prices of an obscure and relatively unknown company which goes by the name “Signal Advances” saw a staggering surge of 527 per cent on Thursday, followed by another 91 per cent on Friday. After Whatsapp made changes to its privacy policy, billionaire entrepreneur and Tesla CEO Elon Musk called upon his followers on Thursday to “Use Signal”, an encrypted messaging app called Signal.
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