Eli Lilly, the pharmaceutical company, is the latest victim of a massive drop in stocks in recent days.
Since Elon Musk’s Twitter takeover, there has been a shift in the social media platform.
Account legitimacy was the main topic of conversation for weeks.
Anyone can purchase the blue check mark, usually reserved for celebrities, politicians, and other figures.
Twitter was responsible for the decline in Eli Lilly’s stock.
A fake Eli Lilly account managed to fool people after the user subscribed to Musk’s new Twitter Blue offer and gave himself the blue check mark tick.
The sight of the check mark made users believe the account’s misleading tweet.
“We are excited to announce insulin is free now,” said the fake Eli Lilly account.
Since the tweet, the account went private, losing its verification checkmark.
The insulin maker saw its stock price drop 4.5% hours after the tweet
Eli Lilly later clarified the situation with its official Twitter account.
Read also: Elon Musk will take more action on Twitter
The Twitter situation
The collapse of the pharmaceutical company is just one of the many problems that have arisen after the change of the Twitter Blue subscription offers.
Initially, people bought the service to impersonate athletes and celebrities before turning it into a breeding ground for other parody accounts and misinformation.
Although it has already appeared on Twitter, the new tick service has caused more confusion.
Many users have tried to get their accounts as close to the original as possible.
Elon Musk’s new Twitter Blue service only adds to the platform’s disinformation problem.
Eli Lilly and Company is just one of many corporate entities to fall victim to identity theft, along with others like:
- Defense manufacturer Lockheed Martin
- Oil company BP
- Produce distributor Chiquita
Read also: Meta set for change with workforce layoff
Twitter enters a new era as more users use verification check marks to impersonate celebrities.
Users have also pointed to the unethical stories of the brands they imitate.
Shares of Eli Lilly and Company may have taken a hit, but the price of insulin for individuals remains very high.