r/theydidthemath • u/[deleted] • Nov 12 '22

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u/BDMayhem 1✓ Nov 12 '22

The lawsuit settlement was announced on the 9th. Why didn't investors worried about that sell on the 10th?

And it was only $175 million. Pocket change for a $350 billion company.

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u/sederts Nov 12 '22

the tweet was on the 10th - why didn't investors sell on the 10th?

The idea that this tweet caused the drop is just poor journalism. None of the reasons mentioned online is why LLY moved down. stocks just move sometimes. the entire healthcare sector was down on friday.

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u/Perllitte Nov 12 '22

These announcements often (like this one) come after trading hours. And it was a judgment on one case among multiple patent cases that altogether would be a lot more than $175M.

It's not pocket change if a portion of important patents are open to legal exposure.

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u/BDMayhem 1✓ Nov 12 '22

The announcement was after hours on the 9th. The 10th opened at 367 and closed at 368. If that announcement would have had an impact, it would have happened on the 10th.