3 ms·
There is never going to be a way to conclusively ascribe the drop in stock price to any one event. However, the act of pointing out the high cost of insulin to
by mbreese 4y ago
There is never going to be a way to conclusively ascribe the drop in stock price to any one event. However, the act of pointing out the high cost of insulin to a large audience not causing a drop in stock price would be highly suspect. I personally doubt it was the Tweet itself that caused the drop. No one should/would have believed it was an actual statement by Eli Lilly.
But in a bear market, this bad publicity about the high price of a mandatory medication for a large population is likely going to have an effect.
Or it could have also been a coincidence... there's no way to know.
- theonething 4y ago> bad publicity about the high price of a mandatory medication for a large population is likely going to have an effect. I know this is orthogonal to the stock price drop, but this kind of bad publicity (gouging sick people in need of your product) actually turned out to be a good thing for the public and for overall justice.
- radlad 4y ago> I personally doubt it was the Tweet itself that caused the drop. No one should/would have believed it was an actual statement by Eli Lilly. Your second sentence is probably true, but the first one is questionable. It's well-known that there are high-frequency stock trading bots which watch Twitter, news headlines, etc.
- ALittleLight 4y agoHigh frequency trader bots watch random accounts? That seems like a bad strategy. Maybe they're watching news headlines - but that seems like a media problem where a storm of articles about nothing drive the very story they are talking about.