Since the acquisition of the social networking site Twitter, Elon Musk has consistently been in the headlines for his decisions. Recently they decided to bring blue tick subscription to Twitter. Someone tweeted $ 8 by taking a blue tick subscription in the name of American pharma company Eli Lilly, which makes insulin. So the shares of the company fell flat and it suffered a loss of Rs 1223 billion. After this incident, Twitter has withdrawn its decision to blue tick for $ 8.
In fact, by paying $8 to Twitter, anyone could get a blue tick in anyone’s name. Taking advantage of this, many users created fake accounts in the name of other people and then tweeted in reverse. Something similar happened with Eli Lilly, the maker of insulin.
Someone took a blue tick in the name of this company by paying $8 and then tweeted from this fake account that now insulin will be available for free. What was it then that the shares of the company fell upside down. The company’s stock fell about 4.37%, or $ 16.06, to $ 352.30 in a day. Eli Lilly’s market capitalization has also decreased by $ 15 billion i.e. Rs 1.20 lakh crore due to falling shares.
As soon as the pharma company came to know about this fake tweet, it clarified by tweeting on its official Twitter account. The company tweeted, ‘We apologize to those who have been given a misleading message from a fake Lily account. Our official Twitter account is @LilyPad.