Did Twitter Help Re-invent the Stock Market?

So I’ve been searching for topics about how people are using Twitter to make money, and came across an unexpected tangent.

It’s about 50Cent using a Twitter blast to hype up one of his stocks, which then rose in value and increased his worth by over $8 million- in a single day.

It’s definitely not what I’d expect to see Twitter used for, but it’s worth noting that in the right hands, the influence could have incredible and immediate outcomes.

50cent tweeted:  “{this is} one of the 15 products this year. If you get in technically I work for you. BIG MONEY” and  ” {the} stock went from 5cent to 10 in one day. You can double your money right now. Just get what you can afford.”

After that, shares jumped 240% in value and then nosedives the next day.

Illegal?  Maybe.  Unorthodox?  Definitely.  Esquire wondered if 50Cent had just invented the stock market, version 2.0.

As for the questions of legality, it’s still murky.  Not even the SEC would come right out and label it as insider trading or any other violation.    It’s also not clear if 50 Cent sold his shares and made any real money.

You might wonder what this hyped-up company is-  another Vitamin Water?  The next Google?

Nope;  it’ was a penny stock for a company called H&H Imports, which produces infomercials.  Who would have guessed that rappers would advise such a diverse portfolio?

Signing off for now; see ya tomorrow!

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