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50 Cent Using Twitter To Pump Up Stock... But Is It Legal?
from the seems-sketchy dept
We're all familiar with stock market pump and dump scams that have been around forever, and often show up via spam, but what happens when someone famous gets in on the game. Apparently, rapper 50 Cent started pumping the stock symbol of a penny stock for a company that is distributing a new pair of headphones that he's associated with. The stock then surged, increasing the company's value by $50 million. Oddly, when I look at the Twitter account of 50 Cent, I no longer see the Twitter messages in question, which makes me wonder if he realized he might get in trouble for those tweets. Of course, there's nothing wrong with giving stock advice but if he didn't disclose his own association with the company, he could run into serious legal problems from both the SEC and the FTC, who have been looking to crack down on "sponsored" tweets that don't properly disclose a relationship.
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http://finance.yahoo.com/echarts?s=HNHI.OB+Interactive#chart3:symbol=hnhi.ob;range=5d;indicato r=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
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This stock closed at 10 cents per share on Friday, and then it opened at 45 cents per share Monday morning.
http://instantrimshot.com/index.php?sound=yeehaw
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Why would anyone listen to 50 cent?
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Re: Why would anyone listen to 50 cent?
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50?
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Pump and Clump
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Whore!
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I'm no lawyer, but...
And he knows it, too late to take it back now.
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Celebrity Greed
It is also breeding a generation of people with the same attitude even though they are not celebrity, thus propogating the I want now generation.
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Re: Why would anyone listen to 50 cent?
No. 30HDC140S (not included). Monitoring system alerts you when battery is discharged or defective, terminals are corroded, pump has been activated, AC power is out, or charger is unplugged. Exclusive fluid sensor alerts you when the battery needs water. Float switch is compact, dependable, and will not get in the way of the main pump.
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why would any not listen to 50Cent
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why would any not listen to 50Cent
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