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50 Cent announced the release date for his new LP The Big 10 will be this Friday at 12pm EST and also revealed his new female artist called Paris on G-Unit records.
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50 Cent talks with WSJ’s Lee Hawkins about his latest ventures including Street King, SMS Audio and more.
Picture this: A famous rapper, most famous for surviving injuries that would kill most people, starts to use Twitter, one of the most popular methods of communication to come along in recent years, to promote a small company’s stock. It turns out that he isn’t simply spreading news about a company that he feels does good work, but rather holds millions of shares of the stock and is attempting to drive up the price in order to cash out. And drive up the stock price he does; the ticker price more than triples after a few short tweets from our rapping friend. The kicker is that the stock itself is not that solid of an investment, having shaky loans and losing business quarters on its books; after a short boost due to the rapper’s promotion, the stock has resumed its decline.
So, is this a story about the hazards of investing in penny stocks, my attempt to show you how inexpensive investments can be manipulated by unscrupulous ‘investors’ and boosted to undeserved highs just in time for those who are promoting them to cash out and laugh all the way to the bank? Oh, how I wish that were case; I can’t claim to come up with story this good. Instead, apparently 50 Cent did exactly what I just described; he bought millions of shares of H&H Imports, a small company that makes its money (or rather, loses rather prodigious amounts of money) by buying and selling women’s handbags. He then tweeted up a storm, talking up the stock and encouraging his followers to buy it, bumping up the price of this little stock and enabling his investment to increase in value by millions of dollars.
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