Eli Lilly loses billions in market cap after ‘verified’ Twitter impostor promises free insulin

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Pharmaceutical company Eli Lilly (LLY) dipped 4.37 per cent Friday to US $352.30 — erasing over US $15 billion in market cap — after a Twitter Blue verified account impersonating the brand promised free insulin.

Pharmaceutical company Eli Lilly dipped 4.37 per cent Friday to US $352.30 — erasing over US $15 billion in market cap — after aThe tweet, sent around 1:30 p.m. Thursday, read: “We are excited to announce insulin is free now.” The post remained online for hours, attracting over 3,000 likes and hundreds of retweets.

The official Eli Lilly account responded Thursday afternoon with an apology, confirming that “Our official Twitter account isThe company joins the scores of other blue check marks plagued by parody accounts after Musk announced a new policy allowing anyone to buy “verification” for $8 a month.have flooded the site with unflattering messages since the update launched Wednesday.

 

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1. $8 ransom is a pretty cheap ransom. 2. Insulin was a Canadian discovery whose patent was sold for $1 because 'it belongs to the world.' - according to the person who discovered it.

LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL

😂😂😂👏👏👏

Admitting I MIGHT be a tad paranoid, BUT, is anyone else pondering that ol’ Elon did it on purpose? In preparation for another leveraged buyout. 🤓

Seriously, what did elonmusk expect. He’s a billionaire toddler running around breaking all of his toys… just for attention. chaos

Well if you believe that then it's a good time to buy their stock because it will obviously bounce back.

The genius elonmusk at work, nice!

Fake news. 👇 How about reporting on the 11 MPs who got money from China? Ya?

Good. They're crooks

I don’t really think people give a shit about big pharma.. losing money.

Love it! Chaos so people will question everything and maybe do some research instead of taking whatever the media companies, government or whoever tweets as truth

Thanks Musk

Amusing

Brilliant! 👏👏👏

Investors should put a little more effort into their decision making.

Incoming multi-billion dollar lawsuit

When you dip, I dip, we dip.

He made control of major Media All you TV is obsolete Long time ago newspapers sitting are Like sitting ducks on a concrete...

Lol.. stupid blueTick

🤣🤣🤣.......we weep for big Pharma.....

Nice.

I assumed Elon's takeover of Twitter was not going to go down well, but I never imagined the scale of the shitshow

You love to see it 📉

Haha they can afford that.

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