5 ms·

Eli Lilly Stock Dives After Fake Twitter Account Promises Free Insulin

44 points by insin 4y ago

mikkergp 4y ago
I have real trouble believing these are connected.
- Finnucane 4y ago
  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.
  - mikkergp 4y ago
    I don’t think it’s that I can’t believe it, I just don’t want to… smdh
  - nebula8804 4y ago
    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.
    - AustinDev 4y ago
      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.
      - Finnucane 4y ago
        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.
        AustinDev 4y ago
        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.
latchkey 4y ago
If you're having trouble believing this, Elon also just suspended the $8 subscription. https://twitter.com/ZoeSchiffer/status/1591084814157111296 https://twitter.com/ZoeSchiffer/status/1591084814157111296 Update: further proof since it affected all the drug companies... https://twitter.com/rafaelshimunov/status/1591147877530628096 https://twitter.com/rafaelshimunov/status/159114787753062809...
- tsol 4y ago
  >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.
  - AustinDev 4y ago
    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.
  - stevula 4y ago
    If one company started offering insulin for free that would certainly affect their competitors.
  - cma 4y ago
    All could go down because their scam is getting back in the news, increasing chances of regulation on it.
lupire 4y ago
Is there any official Twitter documentation page that shows stuff like the current definition of blue check and grey check and whatever?
- thatguy0900 4y ago
  elon himself is probably the only person who knows
- cma 4y ago
  According to The Verge they fired the communications department

44 points by insin 4y ago

mikkergp 4y ago

I have real trouble believing these are connected.

Finnucane 4y ago
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.
- mikkergp 4y ago
  I don’t think it’s that I can’t believe it, I just don’t want to… smdh
- nebula8804 4y ago
  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.
  - AustinDev 4y ago
    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.
    - Finnucane 4y ago
      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.
      - AustinDev 4y ago
        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.

latchkey 4y ago

If you're having trouble believing this, Elon also just suspended the $8 subscription. https://twitter.com/ZoeSchiffer/status/1591084814157111296 https://twitter.com/ZoeSchiffer/status/1591084814157111296 Update: further proof since it affected all the drug companies... https://twitter.com/rafaelshimunov/status/1591147877530628096 https://twitter.com/rafaelshimunov/status/159114787753062809...

tsol 4y ago
>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.
- AustinDev 4y ago
  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.
- stevula 4y ago
  If one company started offering insulin for free that would certainly affect their competitors.
- cma 4y ago
  All could go down because their scam is getting back in the news, increasing chances of regulation on it.

lupire 4y ago

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

thatguy0900 4y ago
elon himself is probably the only person who knows
cma 4y ago
According to The Verge they fired the communications department