This company suffered a loss of $ 15 billion due to a fake tweet, Elon Musk’s decision was heavy.
Eli Lilly News: Due to a decision by Elon Musk, a company has lost billions. The stock of insulin maker Eli Lilly fell heavily on Friday and the company’s market cap decreased. The reason for this was a fake tweet, which was done by someone by creating a fake account in the name of the company. Let’s know the whole matter.
The steering of Twitter is now in the hands of Elon Musk. Musk has bought the social media platform for $ 44 billion. But since the entry of Musk, the ride Twitter is becoming expensive for people. Elon started taking quick decisions as soon as he bought Twitter. Many people were fired from the company, so many such decisions were taken, which are overshadowing others.
One such decision is paid blue tick verification. Actually, Musk had announced that users will now have to pay $8 for Twitter Blue Tick. In such a situation, many users are buying blue ticks for it by creating a fake account. Because of this, fake accounts are also getting verified on Twitter and spreading fake news.
How did the game with the company happen?
A big example of this is the giant pharmacy company Eli Lilly (LLY), which has lost billions of dollars due to a fake account. Actually, someone created a fake Twitter account in the name of Eli Lilly and bought Blue Tick for it.
After this tweeted ‘insulin is free now’ from the fake account. This tweet was done on Thursday. Eli Lilly is an American pharmaceutical company that manufactures insulin.
Someone paid $8 for Twitter blue and wiped out $15 billion in market cap from a big pharmaceutical company pic.twitter.com/NJ4sPNDwPM
— Not Jerome Powell (@alifarhat79) November 12, 2022
According to the reports, after this tweet, the company’s stock fell by 4.37 percent and the company’s market cap was reduced to about $ 15 billion.
However, as soon as it is known, the company issued a denial from its official Twitter account. Earlier, someone had bought blue tick verification by creating fake accounts in the name of Donald Trump and Super Mario.
The paid blue tick has been stopped
As per the latest reports, Twitter has suspended the paid blue tick verification for the time being. The company has taken this decision after the ever-increasing number of fake accounts of big brands and companies as well as popular people.
Musk had recently informed in a tweet that a parody account of a company or person would have to write a parody in both its name and bio so that people do not get confused.
Elon Musk has made many big changes after buying Twitter and this is one of them. On the other hand, official accounts on Twitter are being given a separate badge of gray color, in which Official is written.
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