Eli Lilly Stock Dives After Fake Twitter Account Promises Free Insulin | Hacker News Reader

Eli Lilly Stock Dives After Fake Twitter Account Promises Free Insulin

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If you're having trouble believing this, Elon also just suspended the $8 subscription.

https://twitter.com/ZoeSchiffer/status/1591084814157111296

Update: further proof since it affected all the drug companies...

https://twitter.com/rafaelshimunov/status/159114787753062809...

>If you look up the top producers of insulin, more evidence that investors know how vulnerable the insulin grift is.

All insulin producers crashed because of this? To me, that points it to being another cause.

Yeah, I'm not buying this at all. Either the Algo traders that slurp up the Twitter firehose haven't adjusted their algorithms or there is another cause. I would like to give quant trading programmers a bit more credit. All they had to do was lock in the handles of all the old official accounts to ticker mappings when this new feature was announced.

If one company started offering insulin for free that would certainly affect their competitors.

All could go down because their scam is getting back in the news, increasing chances of regulation on it.

Is there any official Twitter documentation page that shows stuff like the current definition of blue check and grey check and whatever?

elon himself is probably the only person who knows

According to The Verge they fired the communications department

I have real trouble believing these are connected.

Yeah, it would suggest that investors make knee-jerk reactions to tweets, without spending a minute to check if it’s real news, and are completely oblivious to what is happening at Twitter.

Okay, yeah, I can believe that.

I don’t think it’s that I can’t believe it, I just don’t want to… smdh

Any chance it is automated systems reacting on information? I always thought that a lot of these hot shot developers working at the big hedge fund firms are writing code that scours the web and other sources and act on that info automatically.

If this actually happened, it would be the result of bad software not people reading the tweet and being deceived. A majority of humans with enough money to move a stock to that degree would have known this was obvious parody why would Eli give up the Insulin racket? it makes no sense.

It would basically mean, somewhere, some program or person(s) are set to believe that Twitter is a source of actionable financial news, and that this has not been updated in light of recent events. I find that at least plausible.

And that those person(s) don't think logically before they act. Why would Eli ever make their product free? It's like apple saying free iPhones to some degree. If the troll tweet was "we're reducing the price to (cost + 30%)" that'd be relatively much more plausible and altruistic.

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