Pure Comedy: 50 Cent Did Nothing More With His Stock Tweets Than Get The SEC On His A**
We were all impressed with Bugsy’s business sense after he made some serious dough off of Twitter the other day. But there’s a catch.
Apparently, the money 50 made off of his little stock tip wasn’t real and is already gone… but not before the FCC got interested in the situation.
50 Cent may see himself in front of the Security Exchange Commission (SEC) over some stock advice he gave out to his 3.8 million twitter followers.
According to the New York Post, 50′s involvement helped the HNHI stock jump from $0.10 per share at the market’s opening yesterday to $0.39 per share when it closed; the spike translated to an $8.7 million earning for Fif, who owns 30 million shares.
“There are very strict guidelines as to what a person can do in terms of possibly manipulating the value of a stock,” financial expert and 60-Minute Money Workout author Ellie Kay told FOX411. “I don’t think it would be a huge surprise to anyone if 50 Cent were investigated for what he did.”
“We can neither confirm nor deny” an investigation is taking place, a SEC rep told Fox News. 50 Cent has yet to comment on the situation, but his tweets in question have been removed. They have been replaced with this: “HNHI is the right investment for me it may or may not be right for u! Do ur homework,” as well as, “I own HNHI stock thoughts on it are my opinion. Talk to financial advisor about it.”
To add insult to injury, Gawker reports that H&H stock has already fallen back to it’s low budget-ness.
