8.7 million reasons!


 50 Cent Uses Twitter To Make $8.7 Million In One Day

Rappers have been known to influence interest in fashion trends, alcohol brands, and luxury automobiles. This week hip-hop mogul 50 Cent added the stock exchange to the list.

In just one day, 50 Cent’s promotion of the publicly traded H&H Imports, Inc. raised the company’s stock price from .10 to .39 per share.

The G-Unit head urged his 3.8 million Twitter followers to invest in the company. “TVG’s stock went from 5 cent to 10 in one day,” 50 wrote about the subsidiary of H&H. “You can double your money right now. Just get what you can afford.”

50’s fans responded immediately, purchasing $50 million worth of the penny stocks. The New York rapper made $8.7 million from those exchanges.

Last October, 50 Cent received 30 million H&H shares in a private placement, the New York Post reported. Just days before encouraging his followers to purchase the stock, he premiered a joint effort with TV Goods, Inc., a set of headphones called Sleek By 50.

Using his influence to generate so much activity for a company in which he owned stock prompted some experts to speculate whether or not he may have violated insider trader laws.

Jonathan Macey, a professor of securities at Yale Law School, does not believe 50 Cent did anything wrong. “How can they call it a take if he didn’t sell his stock?” Macey said in an interview with Esquire. “All he said was that it’s a great company.”

Let’s hope Macey is right. But to be safe, 50 has since deleted from his Twitter page all of the messages.


About Saabr International

The Saabr International Blog is dedicated to being a resource for information on Nigella Sativa (Black Seed Oil, Kalonji). We also are committed to providing educational, thought provoking,and stimulating, information and conversation on health and wellness.
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