Just when you think troubled 35-year-old rapper 50 Cent can’t get any more stupid than he already is — he outdoes himself.
Earlier this week, Twitter was abuzz with the news that Curtis Jackson made an instant $8.7 million in the stock market by urging his Twitter followers to buy shares of penny stock that he owned.
“You can double your money right now. Just get what you can afford” Fiddy tweeted. “They are no joke get in now,” he added.
Jackson reportedly received 30 million shares of H&H stock in a private placement last October. H&H closed at 39 cents on Monday, up 29 cents, netting Jackson’s shares the aforementioned $8.7 million.
But is it really that easy to rake in millions of dollars on the stock market? Of course not. If it were that easy then stock brokers would jump on Twitter giving insider advice to their followers.
According to the SEC website, a broker or investor will spark a federal investigation into their stock trades if they are caught using artificial means to manipulate or raise the price of their stock.
It is likely that Fiddy will never see a penny of that cash. He hurriedly erased all of his tweets, sending his stock plummeting. But it doesn’t matter. I’m sure the feds have all the evidence they need to pursue an investigation.
Maybe 50 Cent should have consulted with his BFF, Martha Stewart, who was convicted of lying about insider trading in 2004.
Source: GOT
