50 Cent Made $10M Yesterday. Follow Him On Twitter Before The Feds Come & You Can Too
Over the weekend rapper 50 Cent tweeted repeatedly about HNHI, a distributor of headphones that trades on the penny stock exchange. On Monday, HNHI's stock finished up an impressive 240%. At the current market cap of $71 million, that's a $50 million gain from last Friday. Along the way, 50 Cent made about $10 million according to an SEC filing that shows he owned 30 million shares. Is all this illegal? Apparently, someone on 50 Cents's camp thinks it might be leading to these amusing tweets yesterday:
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No different than someone watching Mad Money and hearing Jim Cramer say buy buy buy or sell sell sell. You got someone’s opinion.
It’s not illegal at all because he’s just a customer, not a market maker, not a licensed anything.
Anyone could do this — it’s just that most of us don’t have that many idiots following us on Twitter and doing what we say.
Welcome to the future, it’s awesome here.
hahaha. good one Justin! Why does the future smell like bacon and biscuits?