Get Rich Or Die Tweetin

Rapper 50 Cent found himself in some hot water last night, although not the type you might expect from a man who has been shot 9 times. Instead, Fiddy’s trouble stemmed from some stock advice he pumped out on Twitter. Advocating strongly for HNHI, the parent company of TV Goods, Inc., 50 Cent urged his 3.8million Twitter followers to get in on the action.

The tweets, which have since been deleted from 50 Cent’s twitter feed, were enthusiastic about the stock (and all should be read with a heavy dose of “sic”):

  • “HNHI is the stock symbol for TVG sleek by50 is one of the 15 products this year. If you get in technically I work for you. BIG MONEY”
  • “TVG’s stock went from 5cent to 10 in one day. You can double your money right now. Just get what you can afford.”
  • “HNHI is the stock symbol for TVG there launching 15 different products. they are no joke get in now.”
  • “You better get in now TVG I’m never saying this again. Watch how this company blows up.”
  • “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. ”

The penny stock skyrocketed in price, closing the day up over 200%.

50 Cent quickly backtracked, likely pushed to do so by his legal counsel. “I own HNHI stock thoughts on it are my opinion. Talk to financial advisor about it,” he tweeted, shortly after deleting the stock-related tweets.

“HNHI is the right investment for me it may or may not be right for u! Do ur homework.”

Today, the stock is down a fraction of what it gained yesterday. Still, it looks to be big bucks for 50 Cent and his associates — provided the SEC doesn’t come knocking, of course.

TV Goods recently announced a partnership with 50 Cent, launching mobile audio products including a line of Sleek headphones called Sleek By 50 Cent. Fiddy follows fellow artists Dr. Dre, Lady Gaga, and Justin Bieber, who have all tied their names to the Beats line of headphones.

According to an HNHI press release: “50 Cent, through G-Unit, has also made an equity investment in TV Goods, which makes him a significant minority shareholder in TV Goods and will be offered a seat on the Board of the Company at a later date.”

Hip hop fans will note that this isn’t the first time 50 Cent has been tied to investment related news. The rapper, who came in at #14 on Forbes’ Hip Hop’s Cash Kings 2010 list, landed over $100million by getting in on the ground level with Glaceau Vitamin Water. He reportedly owned a 10% share of the company, which sold to Coca Cola in 2007 for over $4 billion.

By: Chris Barth (Forbes)

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