Top company’s shares fell due to blue tick mess

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Ever since Twitter new CEO Elon Musk announced the blue tick for $8 monthly, a lot of fake accounts have surfaced on the microblogging site, targeting celebrities and several high profile companies.

Eli Lilly, the pharmaceutical giant, fell prey for this Twitter Blue mess. A fake account pretending to be the company’s real account posted on Twitter that Eli Lilly is selling the insulin for free. The fake tweet read, “We are excited to announce insulin is free now.”

Hours after the fake post, Eli Lilly’s stock fell sharply. Reacting to this unexpected development, the company apologized for a misleading tweet and cleared the confusion that insulin is not for free.

Similarly, Lockheed Martin shares fell after a fake account, using the Twitter blue, posted fake information that the company stopped selling the weapons in some countries. After witnessing these unforeseen developments, Twitter paused the blue verification process on Friday.

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