Is the Signal App on the Stock Market?
Is the Signal app on the stock market or not? That is the question that everyone is asking, and the answer is no. This app is not listed on the stock market, but it is being developed by a nonprofit organization called the SIGNALS FOUNDATION, which is led by Brian Acton. Brian Acton is the co-founder of whatsapp and left the company in 2017 to start the signal foundation. Ultimately, the Signal app is an end-to-end encrypted messaging service that enables users to communicate anonymously with others.
Signal’s mission is to make mobile communication more private and secure. Its founders have focused on privacy and have not included trackers or ads. The company is completely free to use, and doesn’t have any affiliate marketing. Signal is also supported by big-name users, including Edward Snowdon, the privacy advocate and former CEO of Twitter. The company doesn’t report its financials to the Securities and Exchange Commission, and the CEO, Chris Hymel, has not responded to requests for comment. But it has managed to reach a market cap of $660 million, and its shares have been trading under a dollar since 2015.
A tweet by Tesla CEO Elon Musk urging his Twitter followers to use Signal also triggered massive buying of the unrelated stock. Musk’s tweet prompted “Smart” retail investors to rush to the trading app, buying Signal Advance stock. However, despite the rise in the stock price, Signal is not a stock to hold for long. So, what should we do? Let’s look at the Signal app’s business model and the potential implications for the stock.