Maybe He Should Stick to the ‘RAP’ Thing.
We all know that rappers/hip hop artist now days merchandise the hell out of themselves. So, what happens when 50 Cent tells people to buy a piece of crap penny stock on the stock market? It triples in value.
Apparently, 50 cent is also a headphone entrepreneur who told his 3.8 million Twitter acolytes to buy stock in a company called H&H over the weekend, causing a buying surge that earned him $5.2 million.
H&H is basically a worthless penny stock; the company imports the “Sleek by 50” headphones that 50 Cent endorses. He owns 7.5 million shares in H&H and warrants for 22.5 million more, according to ProPublica, so his paper wealth skyrocketed after his promotional Twitter posts—”HNHI is the stock symbol … they are no joke get in now”—caused the stock to triple in value.
That sounds a lot like an old fashioned “pump and dump” scheme. Except there’s no evidence that 50 Cent ever actually dumped the shares, which he should have done. Because since then, they have since sunk back down to their worthless base price.
Nice try 50 cent, better luck next time.