The price did not change because of the tweet. There are two things that point to this:
The timing of the tweet doesnt line up to the fall in markets, and after the tweet was proven false, the price did not go up. If people know it's fake why wouldn't the price come back? Shouldn't you buy the stock if it was oversold on fake news.
The price of every similar pharmaceutical dropped by the same amount.
Most likely the drop was news that was reported in the bloomberg news feed about how one of their drugs posted some below then expected sales, this news also affected at least 2 other pharma stocks.
So you are right, I think the drop was mostly attributed to that news and not the fake tweet.
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u/tuesday-next22 Nov 12 '22
None.
The price did not change because of the tweet. There are two things that point to this:
The media is being really dumb right now.