How’s this for leveraging Twitter for financial gains, rapper 50 Cent this week turned his 30 million shares of a penny stock into $8.7 million by urging his 3.8 million Twitter followers to invest in the company.
The company, known as H&H sells TV Goods and currently carries Sleek By 50, 50 Cents own brand of sunglasses which have also earned him equity in the organization.
Through Fifty’s urging the company’s stock jumped from 10 cents to 39 cents on Monday, closing at 41 cents on Tuesday.
According to the New York Post:
50 Cent “received 30 million shares of H&H in a private placement last October, including a series of warrants granting him the opportunity to cash in as the stock rises: at 15 cents, 25 cents or — no kidding — 50 cents.”
The superstar rapper Tweeted, then later removed the following Tweet:
“HNHI is the stock symbol for TVG, Sleek by 50 is one of the 15 products this year. If you get in technically I work for you. BIG MONEY.”
After promoting the company all week, 50 finally Tweeted:
“Ok ok ok my friends just told me stop tweeting about HNHI so we can get all the money. Hahaha check it out its the real deal.”
While 50 Cent may make out like a bandit, the company currently sits at $3.3 million in debt with a loss of $1.3 million in the last quarter.
Unless 50’s celebrity can turn the company around, his Twitter followers may have just invested in the first ever Twitter based boiler room.