Signal Foundation, the company that has made Signal Private Messenger was set up by former WhatsApp co-founder Brien Acton who had parted ways with WhatsApp in 2017. Signal’s tagline is also “say hello to privacy.” Signal also comes with end-to-end encryption like WhatsApp and is available for all devices including Android, iPhone, iPad, Windows, Mac, and Linux. The app was launched in 2014 as a messenger focused on privacy. Signal is an instant messaging app developed by non-profit organisation called Signal Foundation. The app has seen a boom of its own in recent days since rival WhatsApp issued an update to its privacy policy that allows it to share user data with Facebook, its parent company. Investors looking to buy stock in the correct ‘Signal,’ however, are out of luck - it’s owned by the Signal Foundation, a three-year-old nonprofit. The company had no revenue from 2014 to 2016, according to the filing, further reported Bloomberg. Signal Advance hadn’t filed an annual report with the Securities and Exchange Commission since 2019. Chris Hymel, also added that “Signal Advance doesn’t have an association with Musk or the Signal app.” The CEO of Signal Advances Inc cleared the confusion in a public statement, and said “We strongly recommend people do their due diligence and always invest with care.” The CEO, Dr. Shares of Texas-based company surged as much as 885% on Monday before paring the gains. That was enough to push Signal Advance’s rally more than 5,100% in three trading days giving it a market valuation of $390 million.ĭespite reports about the confusion on Friday, the stock has continued to rally. According to Bloomberg, by the end of the day, Signal Advance Inc. What investors, however, mistook it for the stock share of a company called ‘Signal Advance Inc.’ and invested in it. What Musk referred to was the messaging app ‘Signal’ as an alternative to WhatsApp which has recently come under controversy for its change in privacy rules sparking concerns. It started on January 7, when the tech mogul and currently world’s richest person, tweeted two simple words from his Twitter account to his 42 million followers. Tesla CEO and SpaceX boss Elon Musk may have given out mixed signals.Īn obscure medical device company called ‘Signal Advances’ stock prices surged more than 400 percent on Monday, and Elon Musk may be the only reason.
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