Eli Lilly Dives After Fake Twitter Account Promises Free Insulin; Takes Novo Nordisk, Sanofi With It

[swag]

Source: Investor's Business Daily

ALLISON GATLIN10:33 AM ET 11/11/2022

Elon Musk's new pay-for-play verification system on Twitter shook pharmaceutical mainstay Eli Lilly (LLY) — leading LLY stock to skid Friday — after a fake account claimed "insulin is free now."

The tweet went live around 1:30 p.m. on Thursday from an account claiming to be Eli Lilly. It remained online for several hours, gaining steam from hundreds of retweets and thousands of likes. As of Friday morning, the fake account is no longer verified and its tweets are now private.

But that didn't stop LLY stock from falling 2.2% near 360.70 in morning trades on today's stock market.

"We apologize to those who have been served a misleading message from a fake Lilly account," the company said from its official account.

Read more: https://www.investors.com/news/technology/lly-stock-dives-taking-novo-sanofi-with-it-after-fake-twitter-account-promises-free-insulin/

[SheltieLover]

1. So, pootin's puppet has figured out a way to screw with the markets.

[Gore1FL]

13. He's been doing that for years now.

Besides the most recent Twitter stuff (before and after purchase) and his statements last year that destabilized (or perhaps accelerated the destabilization of) crypto, in 2018 he he threated to take TSLA private at a premium, fueling the price.

At this point, the SEC probably has a direct line...

[SheltieLover]

14. Yup!

[bucolic_frolic]

2. Somebody in trouble, securities market manipulation

Reverse dump and pump, nicely executed

[Renew Deal]

4. Could be that or even just clever joke.

Either way, some big lawsuits are coming. One for Twitter and another for the account owner.

[yardwork]

21. I don't know that the account owner would be liable.

Interesting legal case, I'd think.

[Obvious85]

11. 100% Elon's fault

He wanted a free-for-all, now there are consequences

[onecaliberal]

3. Lily should sue musk.

[SheltieLover]

15. Yup, they should!

[asiliveandbreathe]

5. Market is manipulated every single day..just looks like now, exposed big time..

investors don't like Eli Lily offering FREE insulin..

I know is a fake account boasting Eli Lily free..makes me sick..we are so beholden to investors..vs our health and well-being..disgusting..

[truthisfreedom]

6. Thanks a lot, Elon

Nice work, you repuke worm.

[NullTuples]

8. Like he didn't manipulate Twitter's stock price for much of 2022 before he bought it...

[prodigitalson]

7. that's the funniest thing that ever happened

Elon Musk is a friggin' genius

[OldBaldy1701E]

22. I agree! (n/t)

[in2herbs]

9. What would have happened to Eli if there had been a massive buy of their stock at

the reduced prices?? I wish I'd known, I would have called my financial advisor and told him to "buy"!

[Trueblue1968]

10. BUMMER .... ME TOO

[dchill]

12. Sick. Sad!

[jaxexpat]

16. Couldn't have happened to a more deserving lot of parasitic clowns.

Is Elon playing a long game? Will he buy up all the world's industry at $0.30 on the dollar?

[area51]

18. +1 n/t

[Igel]

17. Apparently a lot of twitterati are really bad at

distinguishing between disinformation and truth.

Speaks badly for the flock. No wonder they want safeguards to protect them from themselves. Like an AA habitue refusing to go to into a bar.

I have a twitter account because at a professional development session the principal of my high school said he wanted to have more Twitter usage as PR--"doing an interesting activity, tweet it!" I set it up. See occasional things on my phone because I haven't change my phone out since then (that principal's history, new principal's in year 4). Don't know my password, vaguely remember my account name is for some reason is Hebrew because I was trying to learn some at the time.

[Lulu KC]

19. I don't understand why they are apologizing

They did nothing wrong. Why apologize? There are other things they might have apologized for, but why this?

[LittleGirl]

20. Suck it Lilly.

You gave Hoosiers a bad name by raising the price of insulin over 300%.
My 8 year old niece is Type 1. She didn't ask for this and she nearly died because she was diagnosed in May of 2020 during the height of covid hospitalizations. She was 6 back then.

[ck4829]

23. K&R