50 Cent using Twitter to Pump Penny Stocks

gimmedat

gimmedat

Global Dominance
May 24, 2009
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msn said:
Who says you can't make money on Twitter? Rapper 50 Cent just raked in millions.

The rapper had plenty to say over the weekend about a penny stock named H&H Imports (HNHI), a tiny operation out of Florida. Why? Because 50 Cent invested $750,000 in shares and warrants in the company last fall. Some of those shares can be cashed in only as the stock rises to 15 cents, 25 cents and, yes, 50 cents.

What better way to pump up the stock than to promote it to your 3.8 million Twitter followers? That's what the rapper did -- and the stock rose 240% to close at 39 cents Monday.

Today, however, shares are down nearly 12% to 34 cents.
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50 Cent tweets tiny stock soars- Top Stocks - MSN Money
 


Isn't it illegal if he doesn't disclose that he owns it from when he starts pumping it?

I wouldn't be surprised to see the SEC jump on this since it is all over a number of news sites.
 
Oh disclosure has nothing to do with this one. If he sold 1 share after this he is fucked. The SEC will lynch him he aint exactly part of the good old boy network. Now if he owned some shell corp with a few layers between him "pretty much guaranteed" and his stock, he will walk off into the sunset w/ millions and my level of respect will go way up
 
He doesn't even have to sell and realize the gain. The lack of SEC required disclosures in his tweets fucks him nicely all the same.

Maybe he can room with Bernie ;)
 
galacon said:
He doesn't even have to sell and realize the gain. The lack of SEC required disclosures in his tweets fucks him nicely all the same.

Maybe he can room with Bernie ;)
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True because by artificially inflating the prices "unknowing investors" can not make an informed decision. I am sure he will get a free pass from the media but the guys at the SEC play by a different set of rules and they get really pissed when an outsider comes in and starts messing w/ their money.
 
He doesn't even have to sell and realize the gain. If he sold 1 share after this he is fucked. High risk and high profitable is the value of penny stocks, but if you have enough knowledge in trade, then you will not find any high risks of losing money.
 
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