How 50 Cent used Twitter to Make 87 Million
Curtis Jackson whom many refer to as 50 Cent arrived on the rap scene with his debut album “Get Rich or Die Trying” his new album may be entitled “Get Rich or Get Fined by SEC.” Jackson used Twitter this past weekend to pump up shares of H&H Imports Inc. (stockup 290% in two days. Jackson received 30 million shares of H&H in a private placement last October, including a series of warrants allowing him to cash in as the stock rises: at 15 cents, 25 cents.
50 Cent allegedly "personally endorsed" a line of mobile audio products TV Goods had gained marketing rights to that are made by another Florida company, Sleek Audio, H&H said. Jackson talked up the headphones when he appeared on TV last week from the Consumer Electronics Show in Las Vegas.
H&H Imports is a TV Goods, Inc. that produces infomercials. Its infomercials are used for various product launches, such as apparels, automotive, beauty products, collectibles, electronics, health and fitness, home and garden supplies, kids, kitchen appliances, mature products, pets, sports and recreation, and supplements. TV Goods, Inc. was founded in 2005 and is based in Clearwater, Florida.
Reports began to surface on that 50 Cent the popular hip-hop artist earned $8.7 million on January 10 through Twitter-now who said social media is a waste of time. According to the“TheStreet”50 Cent became a hot search topic.share priceof H&H Imports by promoting the penny stock via Twitter. "You can double your money right now. Just get what you can afford," he tweeted on Monday. The value of the stock rose 29 cents to 39 cents following his promotional tweets. Jackson reportedly received 30 million shares of H&H in a private placement last October.
50 Cent has made plenty of smart business moves in the past few years-from Vitamin Water to Rebook. His most recent tweets promoting H&H Imports may raise a few eyebrows with the Securities Exchange Commission (SEC) along with the value of H&H stock. Last weekend 50 Cent tweeted "Follow my lead there just going to get bigger trust me even if its a small investment it will pay off." Then he peddled backwards, like a politician saying. "HNHI is the right investment for me it may or may not be right for u! Do ur homework." Jackson would delete his original tweets prior to making that statement. Maybe it was his lawyers? Maybe 50 knows what he's doing?
Financial experts claim there are very strict guidelines as to what a person can do in terms of manipulating the stock price, perhaps thats why 50 Cents recanted his tweets, under the advisement of his lawyers. Some think that H&H Imports is a money-losing venture out of Clearwater, Fla.., that owns TV Goods, a marketing firm recently founded by Kevin Harrington. Harrington is probably best known for his ABC's reality show "Shark Tank," which allows entrepreneurs pitch their ideas to potential backers.
For the past 26 years Harrington launched more than 500 products, with cumulative sales exceeding $4 Billion worldwide. 50 Cent’s association with H&H won’t fix their cash-flow problems the company reportedly lost $1.3 Million on revenues of $292,933. H&H has accumulated a deficit of $3.3 million, which raises questions of their ability to continue hemorrhaging at that rate.
