A penny stock named H&H Imports (HNHI), (a tiny operation out of Florida) that Fiddy tweeted about to his 3.8M followers made the stock jump up 240% and he raked in millions. Crazy
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His new headphones are gonna make bank too....just fyi
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time to short.
LOL -- I was thinking about posting this too (I read about it a few minutes ago). Can he get in any legal trouble for this?
Wrote about this yesterday but the power went out :( Fiddy made 9 million pumping that stock in a single day, not sure if he dumped it though.. I have a screenshot of his tweets here somewhere, I'll try to dig it up.
sounds illegal to me ....
+1
can you say insider trading?
What does insider trading have to do with it? He's not the company's CEO.
Its illegal if the view is taken that he was intentionally manipulating the market.
When he was on CNBC and dealbook talking about crap. He sounded like a moron and I am like wtf why is he trying this hustle?
It all makes sense now, nicely done fiddy, the man is a born hustla.
hes smart with his money...gotta give him that...not a bad actor either
and does anyone think Cramer does this too? via tweeting and mad money?
Cramer would never suggest or even look at some random penny stock probably owned by 50's homeboy. While Cramer is a fan boy, he doesn't move markets.
Fiddy moved this thing 240% in one day!
I thought its only illegal if he owns a certain % of the company
He owns 30 million shares
No expert, but it seems like it would be illegal to me.
It isn't necessary to own a certain percentage of the company.
Supposedly he has significant holdings in the company and the company has been red flagged by its auditor.
Section 17 of the Securities Exchange Act of 1933 makes similar practices illegal, but there is always a gray line involving the wording like what happened in the Lebed trials.
http://www.sec.gov/about/laws/sa33.pdf
haha wow. I dont use the twitter I dont really believe in it or see its purpose... my gf and her friends would vehemently disagree. However, I love this business move by 50 cent. Best case $8.7 million in profits (according to NY Post) worse case he goes to jail gains more "street cred" - as if shots to the face didn't count - the he comes out with a new CD and tour then pockets 12 million. Great plan Curtis Jackson haha.
On a serious note what about the people who followed his move? What were they thinking?
I'm guessing they weren't. lol.
Couldn't find my screenshot so here's one I found online: http://www.prophetalerts.com/wp-content/uploads/2011/01/50cent-Stock.jpg
Haha! You should be his agent. If someone told him that plan, before hand, I bet he would of been all over it.
That's the second thing I thought (after insider trading). Who the f*ck even knew that so many fiddy tweet followers even play the market!?
I bet his lawyers will get him off because tweeting a pump and dump is sort of gray area that isn't covered by law
.
one of the most white collar crimes to come out of the rap industry.
If 50 doesn't get in trouble (and I have no idea what the laws are like so I have no clue), I wonder if other people would try doing the same (mainly, rappers). Looks like some of you guys should start following some obnoxious rappers on twitter(Kanye West for example lol)
Who ever though trading against 50 cent would be a legitimate topic...world gets crazier everyday
Guys pitch was terrible in the link.
I admittedly don't know much about the markets. But can someone tell me why I WOULDN'T want to short this?
If I don't get legit responses before tomorrow morning I'm placing the order.
VITAMIN WATER! Although 50 Cent has made a few past successful investments, I believe you and many others are correct in taking the assumption this is in fact a pump and dump. I'm just trying lay out all plausible scenarios before you make a decision.
I'm not either, but let me take a stab at it. I'm guessing a lot of people already beat you to it. As soon as word got out about this thing, I bet tons of people sold/shorted it. In fact, in one of the things I read, I thought it said up 240% and then back down shortly thereafter.
The chart for that thing looks retarded
This is pathetic. I bet these idiots were expecting another VitaminWater, as if that investment was his decision to begin with....
Agreed. 50 cent is gonna make pump'n'dump history.
I wonder if a couple of computers got caught up in this moment trade.
btw speaking of the chart the day before the tweets came out it seemed like a significant increase in vol
Prolly his investment advisor slumped in the crisis and now needed a larger bonus. So now fitty goes to the dumbster and his advisor takes care of the house in the meantime .
If Tim Sykes was still around he would short this.
oh wait, he is.............http://www.timothysykes.com/
[quote=Gekko21]If Tim Sykes was still around he would short this.
oh wait, he is.............http://www.timothysykes.com/[/quote]
Haha!
Jeez! Talk about self-promotion. How many times does he try to pitch his subscription service, just in that short, little blog post?
I could see 50 putting out a new album called PUMP & DUMP
http://www.businessinsider.com/50-cents-most-hysterical-penny-stock-twe…
^ Fiddy's Disclaimer haha ^
Get rich or die tryin' nigga
Never would have guessed 50 Cent would end up being taken down by the SEC. Any of you guys read about LL Cool J's investment in a credit fund?
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