Signal Advance Inc (SIGL) Stock Price and Forecast: The WhatsApp (FB) killer, except it is not!

Signal is a not-for-profit foundation with a messaging app.
Signal Advance Inc. (SIGL) is a medical technology company with no messaging app.
Investors mixed the two up and SIGL rose 5000%.

Ivan Brian FXStreet

Signal Advance (SIGL) is a tiny medical technology company which was unheard of until last week. On January 4, not a single share traded in the stock market, a few days later the stock traded over 2 million shares! The daily average is less than 10,000.

The stock moved from $0.60 to nearly $40 in a matter of days.

Update: WhatsApp has informed it is delaying its new privacy policy until May 15.

SIGL stock: A case of mistaken identity

The reason for this extraordinary surge was due to a tweet sent out by Tesla (TSLA) CEO Elon Musk. He wanted people to switch from WhatsApp (FB) to Signal messaging app. Instead, people raced to snap up stock of Signal Advance (SIGL)!

Zoom (ZM) in, ZOOM out

Back in March 2020, at the start of the pandemic, the Securities and Exchange Commission (SEC) suspended trading of Zoom Technologies (ZOOM) as traders were buying it thinking it was ZOOM Video (ZM). ZOOM was up 900% when the SEC stepped in.

SIGL still going strong

Despite Signal Advance (SIGL) issuing a press release making people aware of the mistaken identity, SIGL is still trading much higher than its long-term average. SIGL closed on Friday at $13.54 down from near $40 earlier in the week. On January 6th it closed at $0.60!

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has received compensation for writing this article. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to do your own research before making any investment and take independent advice from a registered investment advisor. This article is for information purposes only. We/I do not provide personalized recommendations. I make no representations as to accuracy, completeness, the suitability of this information. I will not be liable for any errors, omissions or any losses, injuries or damages arising from this information display or use. I will not be held responsible for information that is found at the end of links posted on this page.

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

AUD/USD sits at three-week highs above 0.7000 on hawkish RBA-speak

AUD/USD holds a positive bias for the fourth straight day, trading above 0.7000 in the Asian session on Wednesday and at three-week highs. RBA Deputy Governor Andrew Hauser's hawkish remarks and inflation concerns underpin the pair. However, the upside appears capped as the US Dollar attracts some buyers amid looming US-Iran uncertainty.

USD/JPY remains confined in a familiar range below 158.50

USD/JPY sees some dip-buying in the Asian session on Wednesday, though it remains confined within a multi-week range near 158.50 as the uncertainty over the timing of the next BoJ rate hike keeps Japanese Yen bulls on the defensive. Meanwhile, hawkish Fed expectations, bolstered by inflation risks stemming from volatile oil prices, underpin the US Dollar. However, looming intervention fears could limit JPY losses and cap the currency pair.

Gold extends losing spree as US bond yields hold ground

Gold maintains an offered tone heading into the European session, trading near the weekly low it touched earlier this Wednesday, with bears still awaiting a sustained break and acceptance below $4,100 before positioning for further losses. Inflation risks stemming from volatile oil prices underpin prospects for further policy tightening by the US Federal Reserve. Furthermore, a modest US Dollar bounce from a near three-week low is seen weighing on the bullion.

Zcash's bullish reversal eyes $1,698 peak on NU7 upgrade

Zcash (ZEC) shows signs of bullish recovery above $1,200 on Wednesday, following a 9% rebound the previous day linked to the upcoming NU7 upgrade. Blockworks released a Zcash holders report on Tuesday, highlighting steady network growth. The technical outlook for ZEC is bullish, with bulls eyeing an extended rally toward $1,698.

US – Midterm update: Pre-election tail risk scenarios

With two weeks until the US midterm elections on 3 November, early voting has already opened in more than 40 states. Prediction markets are broadly unchanged since we published our Midterm update, 13 October. The prediction market Polymarket continues to see Democrats winning both chambers as the most likely outcome, with a 62.5% probability.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.