[jjulius]

>Is the fake accounts thing overblown?

From the article:

>By Friday morning, Lilly stock had dropped by more than 5% from the day before. The Twitter stunt pulled down the stock price of other diabetes drugmakers, including Novo Nordisk and Sanofi. Lilly’s stock has yet to recover and, on Monday morning, remained down more than 4% over the past five days.

I'm not normally one to defend drug makers, but when you're talking about the loss of ~$15 billion in market cap[1], and then you factor in the fact that the company themselves was so frustrated by this that they walked away from their ad deal with Twitter, it all makes it hard for me to see how this is "overblown".

[1]https://gizmodo.com/twitter-eli-lilly-elon-musk-insulin-1849...

[legitster]

> The Twitter stunt pulled down the stock price of other diabetes drugmakers, including Novo Nordisk and Sanofi.

It seems much, much more likely the stock loss was part of a larger market event than a specific Twitter stunt.

[jerojero]

I would guess it's not that simple.

People's reaction are varied, this tweet actually resonates with people's beliefs much more strongly than what you might expect. For a lot of people, medicine that you need to continue living should be free. So I would say when this went viral, people at the very least go: "hmm...".

Couple that with reactions from politicians and suddenly you find yourself in a situation where the price of insulin is once again being questioned.

So imo, it's not just a funny tweet but more like a conversation starter and so it absolutely makes sense to me why this would be reflected in the stock price of insulin makers as a whole.

[georgemcbay]

I have no idea if the tweet was actually directly related to the price drop and lean toward being skeptical of it, but I don't think those other companies also dropping is great proof of that.

Assuming the tweet was believed to be real (by enough of the right people to cause this sort of stock move), the expected outcome would be drops in those other companies as well, since Lilly giving insulin away (the tweet was: “We are excited to announce insulin is free now.”) would obviously cause a large impact on their ability to continue to sell it.

[oceanplexian]

This sounds like nonsense to me. Tweets didn't bring down the stock price of multiple drugmakers, market volatility did. Pharma market cap will go up or down by more than that on a daily basis for a thousand and one reasons.

[jjulius]

Sure. It's also why I cited other reasons beyond stock prices. :)

[antisthenes]

Drugmakers pulling advertising and doing less advertising in general is a good thing anyway.

So the negatives are definitely overblown.

[jjulius]

Depends on your perspective. A good thing, collectively, for society. A bad thing for the health and longevity of Twitter in it's current state, and I think that's how it's being framed in most of these discussions.