Eli Lilly shares plummet after false claims from verified Twitter account

The disastrous launch of Elon Musk’s Twitter Blue has caused a multitude of communication problems between users and trolls, with fake news and information inadvertently going viral after users quickly see blue checkmarks and assume what they’re reading is wrong. It is from a legitimate source.

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Although much of the jokes have been in jest, one company is feeling the very real implications of the viral spread of misinformation.

Shares of Eli Lilly and Company slumped on Thursday after an account posing as the drug company claimed that insulin would now be free in the United States.

Screenshot via Twitter

Eli Lilly was down just over 4% in a 24-hour period on Friday afternoon and down 20 points in early trading Friday morning.

The account, which used the handle @EliLillyandCo, had the same username and profile picture as the official Eli Lilly and Co account, which uses the handle @LillyPad.

Both had blue checkmarks, except that the fake account had purchased their symbol after subscribing to Twitter Blue, making it appear legit to quick site visitors.

Eli Lilly responded from his official account on Thursday night apologizing for the mix up.

The fake pharmaceutical company branding was one of many in the last 24 hours, with troll accounts posing as companies in various industries, wreaking havoc across the site.

The fake account has now been suspended.

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