50 Cent Touts Penny Stock on Twitter

By Greg Wilson
|  Tuesday, Jan 11, 2011  |  Updated 7:45 AM PDT
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50 Cent aka Curtis Jackson helped a stock go through the roof

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Rapper 50 Cent can pump up the volume, and he can pump up penny stocks, too.

Fiddy, whose real name is Curtis Jackson, tweeted the merits of a money losing Florida company whose shares trade in the so-called pink sheets, telling followers they could "double your money."

"You can double your money right now. Just get what you can afford," Jackson tweeted about H&H Imports, a money-losing venture out of Clearwater, Fla., that owns TV Goods, a marketing firm recently founded by Kevin Harrington.

Shares rose 29 cents to close at 39 cents after the tweet. Harrington is best known for his role on ABC's reality show "Shark Tank," which lets entrepreneurs pitch their ideas to potential backers.

Jackson got 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, yes,  50 cents.

Lest anyone doubt it was Fiddy's tweet that generated the move, TheStreet.com noted that normal volume for the stock is 30,000 shares. On Monday, volume was 9 million shares. But despite what the rapper says about the company, the share price could head back down soon due to cash flow problems at the company. The New York Post reported that the firm lost $1.3 million last quarter on revenues of just under $300,000.

Selected Reading: New York Post, TheStreet.com, Hollywood Reporter.

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