Fake Twitter Account Sends Eli Lilly Stock Plummeting: 'Insulin Is Free Now'

Conover reported on November 12th ...

Gazillionaire Elon Musk is finding out that running a behemoth social site such as Twitter takes more than money. Elon sunk in $44 billion to buy the site, then he sold $3.95 billion worth of Tesla stock after completing his purchase of Twitter late last month to "save" Twitter.

Then, the little snot fired 50% of Twitter employees, and of course, he had to ask some of them to come back. Twitter was losing $4 million per day. Can we finally admit that billionaires are not job creators, please?

Ever since Elon, who considers himself to be a free speech absolutist, bought Twitter, he has had a trollage problem -- some of them are high-profile names. And because of his massive ego, Musk started banning people that mocked him by using his name.

And now it gets worse.

Via Investors:

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 4.5% to 352.30 on today's stock market. Health care stocks were broadly pummeled Friday as well.

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

The tweet:

Did Twitter Blue tweet just cost Eli Lilly $LLY billions?

Yes. pic.twitter.com/w4RtJwgCVK

— Rafael Shimunov is on Mastodon (@rafaelshimunov) November 11, 2022

Gee, maybe if Elon had kept his employees instead of treating them like shit, and firing them in front of the world, then he would have good advice at his fingertips 24/7, but no, Elon knows everything. He reminds me of another guy who said, "I alone can fix it," and then he fucked everything up.