Signal Advance has soared 11,708% since an Elon Musk tweet recommending a similarly named privacy app spurred ticker confusion

• Signal Advance soared as much as 11,708% after Elon Musk tweeted "use Signal" on Thursday.
• Investors seemed to have confused Musk's tweet about an encrypted messaging app with an unrelated publicly traded company.
• $4.

Shares of Signal Advance have soared as much as 11,708% since Tesla CEO Elon Musk $4 "use Signal" to his 42 million followers on Thursday.

Investors seemed to have confused Signal Advance with Signal, $4 that Musk was encouraging his followers to use.

Shares of Signal Advance, a micro-cap technology stock that trades on the over-the-counter market, soared to as high as $70.85 on Monday from $0.60 just before Musk's tweet on Thursday.

Signal Advance's market capitalization soared to nearly $300 million from $6 million last week. Shares climbed as much as 885% on Monday.

This isn't the first time investors have been confused by two similarly named companies. In March, during COVID-19 lockdowns, shares of Zoom Technologies soared $4. The Securities and Exchange Commission temporarily halted trading in Zoom Technologies.

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