5/16/2023 0 Comments Signal advance stock![]() People who exited the stock while it was hot were the lucky ones who got out, while others who held the stock regretted their decision after the stock plummeted, following its uptrend. 10000 in March, soon saw a stupendous rally and reached a lifetime high around Rs. ![]() Over the several days, following the discovery of this “oxygen stock”, investors jumped at this opportunity for immediate gains. However, the BSE page of the Mumbai-based company describes it as an NBFC. While several market watchers said the company no longer deals in oxygen, there is a contradiction on its website, as its ‘products’ section continues to refer to oxygen and other industrial gases. It has been issued a certificate of registration from the RBI for carrying on Non-Banking Financial Institution (NBFC) business without accepting Public Deposits. Though the company’s primary business was manufacturing and supplying industrial gases between 19, it currently owns substantial financial investments in the form of shares, mutual funds, and other financial securities and the income from such financial investments is the source of revenue of the company. On the homefront, while the oxygen supply was in dire need across our nation’s hospitals, the share price of a company named Bombay Oxygen Investments Ltd (incorporated as ‘Bombay Oxygen Corporation Limited’ in the year 1960) spiked, suggesting that investor had turned towards this stock to capitalize on the current situation. ![]() Something similar happened recently in the Indian market too. This is a perfect example of where the investors and traders get influenced by sporadic news/ online tips and end up purchasing the wrong stocks for the wrong reasons.Īnd of course, as fate would have it, such an unwarranted spike ended tragically for the stock and for those who invested in it people lost millions once the hype died. So it was obvious to expect such momentum around “Signal”.Īnd while Signal’s app download skyrocketed following the tweet, some with limited knowledge on the subject took it as an opportunity to exploit the stock market. People have been following his triumphs ever since he took the helm at Tesla inc. When Elon Musk tweeted “Use Signal” (a WhatsApp competitor), an unrelated stock called Signal Advance soared over 400%, even though he was referring to a messaging app that has nothing to do with the company.Įlon Musk, being established as a formidable industrial leader with a unique voice in the market, has certainly achieved celebrity status with an increasing fan base. Did you know that Elon Musk, is branded as the “King Midas of the stock market”?
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