Here’s Why We Don’t Own Tesla

The nine-word tweet was sent Thursday afternoon from an account using the name and logo of the pharmaceutical giant Eli Lilly and Co., and it immediately attracted a giant response: “We are excited to announce insulin is free now.”

The tweet carried a blue “verified” check mark, a badge that Twitter had used for years to signal an account’s authenticity — and that Twitter’s new billionaire owner, Elon Musk, had, while declaring “power to the people!” suddenly opened to anyone, regardless of their identity, as long as they paid $8.

But the tweet was a fake — one of what became a fast-multiplying horde of impersonated businesses, political leaders, government agencies and celebrities. By the time Twitter had removed the tweet, more than six hours later, the account had inspired other fake Eli Lilly copycats and been viewed millions of times.

He may have gotten Tesla and SpaceX off the ground, but it’s clear that he doesn’t understand his own limitations, that limitation being how to run a modern social media site. Nor do I. But I’m not jonesing to do so, either, while he went off and bought one.

This is not a capable business leader, and I don’t want to own the car or the stock. The latter, BTW, is down quite a bit off its highs, but so are a lot of stocks. But will it return to its high flying ways? That remains to be seen.

I’m thinking a lot of investors like myself are leaning against it.