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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: ajtj99 who wrote (14852)1/11/2021 1:23:51 PM
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Want to get a sense of how eager investors are to buy into a runaway stock market? Then look no further than the insane action recently in little known Texas-based health care tech company Signal Advance ( SIGL).

Shares of the company at one point late last week were up 1,500% over a 24-hour period, points out Deutsche Bank strategist Jim Reid. It brought Signal Advance’s market cap to $100 million from $7 million during that stretch. The wild move to the upside follows a Jan. 7 tweet (below) from Tesla founder Elon Musk to “Use Signal.”


Elon Musk tweet sends this stock up 1,500% in 24 hours — may be a sign of market bubble


Brian Sozzi
·Editor-at-Large
Mon, January 11, 2021, 10:58 AM MST

Want to get a sense of how eager investors are to buy into a runaway stock market? Then look no further than the insane action recently in little known Texas-based health care tech company Signal Advance ( SIGL).

Shares of the company at one point late last week were up 1,500% over a 24-hour period, points out Deutsche Bank strategist Jim Reid. It brought Signal Advance’s market cap to $100 million from $7 million during that stretch. The wild move to the upside follows a Jan. 7 tweet (below) from Tesla founder Elon Musk to “Use Signal.”

What Musk was referencing, however, was for people to use WhatsApp rival messaging platform Signal. That Signal is not a public company. And Signal Advance was clearly not top of mind for Musk.

Oddly, despite what is clearly a case of mistaken ticker identity shares of Signal Advance gained 332% on Monday. Signal Advance didn’t return Yahoo Finance’s request for comment on its stock price movement.

Such investor enthusiasm to blindly buy shares in a micro-cap company — simply because of a tweet from the world’s richest person (amid a wild move in shares of Tesla this past year) — underscores the frothiness in markets at present.

“In years to come we’ll know whether the 2020-21 period saw a historic asset price bubble the equivalent of say 1929 or 2000. If indeed it is eventually proved we were in one, one story that may capture attention [is the move in Signal Advance],” Reid said.

Reid isn’t alone on Wall Street in beginning to get concerned that markets have gotten too hot, especially as the COVID-19 pandemic continues to weigh on economic growth.
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