Let nobody ever tell you that there’s no power in social networking. 50 cent has a created a new way of investment consulting. He’s cornered the rap game, made millions as a spokesperson for Vitamin Water and has devoted himself to success in acting, but none of that stands up to making $10 million in two days.
Warren Buffett who? After 50 Cent unveiled a new brand of headphones bearing his name last week, the rapper used Twitter to tell his 3.8 million followers to buy stock in the marketing company – a business he partly owns.
H & H Imports has “one of the 15 products this year. If you get in technically I work for you. BIG MONEY,” he tweeted. The man otherwise known as Curtis Jackson added that the “stock went from 5cent to 10 in one day. You can double your money right now. Just get what you can afford.” This simple info about the company that he owns 30 million shares of raised their stock up 290%, with 9.24 million shares traded in two days. This netted 50 cent roughly $8.7 Million in one day.
We’re sure you can make sense of this. Buy! Sell!
The former drug dealer, whose debut album sold 10 million copies, oversees G-Unit Brands, which owns 12.9 per cent of H & H Imports, a parent company of TV Goods – the firm responsible for marketing 50 Cent’s new range of headphones, Sleek by 50 Cent. See how it all ties in?
On Monday afternoon, 50 seemed to back off a bit from the "Buy! Sell!" approach, tweeting, "I own HNHI stock thoughts on it are my opinion. Talk to financial advisor about it,"and, "HNHI is the right investment for me it may or may not be right for u! Do ur homework."
The stock surge was a huge boost for a company that in the final quarter of 2010 was operating at a loss with a $3.3 million deficit and less than $200,000 in cash. In a reversal of momentum, however, shares of H&H, already a penny stock, fell 36 percent to 25 cents over Tuesday and Wednesday in the wake of 50 Cent’s abandonment of the stock promotion.