The Signal instant messaging app said it gained great popularity after WhatsApp announced it would start combining WhatsApp and Facebook credentials.
More water was thrown into the mill by the world’s richest man, Elon Musk, who on Thursday urged his followers to use Signal.
- Use Signal, Musk wrote explicitly.
Read more: WhatsApp user mass exodus begins - Elon Musk: “Use Signal”
Investors responded to either the instant mess or Elon Musk’s tweet and rushed to buy a stake in U.S. company Signal Advance (SIGL).
They are likely to estimate the value of the company will rise due to a soaring user peak.
However, many investors plunged into a rookie mistake and probably bought the shares of the wrong company out of ignorance, Investorplace reported.
Signal Advance has nothing to do with the Signal instant messaging application, even though it is a US technology company.
The Signal Advance rate has been on an explosive rise since the hustle and bustle of instant messaging applications without any other reasonable explanation.
After Wednesday's closing price, the share has risen as much as about 900 percent.
The buzz around WhatsApp and Signal slashed on Thursday.
As many as 447,000 Signal Advance (SIGL) shares have changed hands during the Friday, according to Investorplace, even though the biggest uproar was already seen on Thursday.
On a normal day, the volume is about 10,000 shares.
Behind the signal is another WhatsApp founder, Brian Acton.
Both founders of WhatsApp moved to Facebook with the acquisition, but left the doors banging as WhatsApp’s new trend unfolded.
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You accepted all this
Read also: This is the Signal instant message recommended by Elon Musk - breaks WhatsApp's position