As per recent report Rapper 50 Cent has made $10 million on the stock market in just two days after using Twitter to promote a marketing company which he owns partly.
If this recent report is to be believed, it appears that people IQ level is improving to the extent that they are following drug dealer advise on where to invest in the stock market.
Rapper 50 cent, also the former drug dealer, promised his 3.8m followers “big money” if they bought stock in H & H Imports. Rapper company, G-Unit Brands, owns 12.9 per cent of H & H Imports – the firm responsible for marketing 50 Cent’s new range of headphones.
Rapper 50 Cent wrote that H & H Imports, which trades under the stock name HNHI, had “one of the 15 products this year. If you get in technically I work for you. BIG MONEY”.
The result was astonishing as just in the next two days 9.24 million shares in the company were traded, and its share value soar sky-high. It was a big boost for a company which was operating at a loss with a $3.3 million (£2.1m) deficit and only $198,000 (£127,000) cash
50 Cent bought his stock in the company on November 30, at 17 cents each, and Weeks later the rapper decided to plug the company on Twitter, causing its share value to rise from four cents to nearly 50 cents each, and closing at 39 cents.
Rapper later deleted his original tweets and wrote: “I own HNHI stock. Thoughts on it are my opinion. Talk to financial adviser about it.”
Interestingly spokesperson for the Securities and Exchange Commission declined to comment, saying: “We never confirm or deny whether an investigation is ongoing.” however certainly Twitter is misused in this case.