Fake tweet about Costco raising the price of its hot dog plummets stock

People ordering lunch at a Costco food court
People ordering lunch at a Costco food court Photo credit SAM OWENS/ COURIER & PRESS

There are two types of people that go to Costco: Those who go for the grocery shopping, and those who go for the food.  And by food, we of course mean their delicious hot dogs.

They’re a staple of the store, and you can’t beat that quality for just $1.50.

However, the Costco hot dog is at the center of some controversy after a fake tweet announcing that the price of the hot dogs would be raised to $2.50 “due to inflation” went viral.

It went so viral, it actually caused Costco’s stock price to plummet.

When the tweet first started making the rounds, Costco’s stock price fell 13%.

Costco co-founder and former CEO Jim Sinegal was adamant the price of the hot dog will never increase. And it's another reminder not to believe everything you read on social media.

When Costco president W. Craig Jelinek once complained to him that they were losing money on their famously cheap $1.50 hot dog and soda package, Sinegal listened, nodded, and then told him, “If you raise [the price of] the effing hot dog, I will kill you.  Figure it out.”