The stock Signal spiked after Elon Musk said to use signal, has nothing to do with the app. A different Zoom spiked at the beginning of COVID. A lemonade company in 2017 put blockchain in its name and watched the stock price soar. Hertz went way up after declaring bankruptcy. I’m willing to bet this is clueless speculators.
I wonder if this is a clever-ish social media algorithm trading, shrewd fund managers or really just desperately mistaken retail traders.