The Power Of Social Websites

Who says you can't generate profits on twitter Rapper 50 Cent recently raked in millions.

The rapper had a lot to express over the weekend about a penny stock called H&H Imports (HNHI), a tiny operation out of Florida. Why? Because 50 Cent invested $750,000 in shares and warrants in the company last fall. A few of these shares could be cashed out only as the stock goes up to 15 cents, 25 cents and, yes, 50 cents.

What better way to pump up the stock than to promote it to your 3.8 million Twitter followers? That's what the rapper did - and the stock went up by 240 per cent to close at 39 cents Monday.

Presently, however, stocks are down nearly 12 per cent to 34 cents.

"You could double your money right now,"50 Cent tweeted. "Just get what you can afford." He sent out a series of messages - some of which have since been deleted - that said things like "They aren't any joke get in now."

It took a few days for the fact to set in, and 50 Cent (whose actual name is Curtis Jackson) began backing off of his cheerleading Monday, The New York Observer reports. He began sending more cautious messages to his followers, saying things such as "I have HNHI stock ideas on it are my estimation. Speak with a financial advisor about it."

Jackson also told his followers to do their homework, stating that "HNHI is the best investment for me personally it might not be right for u!"

The New York Post crunched the numbers and realized that, based on H&H's close at 39 cents Monday, Jackson's stake of 30 million shares gained in value by $8.7 million. The entire company's value shot up by about $50 million.

H&H is an incredibly sketchy investment decision and even got the dreadful "going concern" notice last March as its auditor discussed doubts about the company's future. The company reported less than $300,000 in revenue last quarter but lost $1.3 million, the Post reports.

There are some funny loans at the company as well, the Observer notes. H&H loaned $141,000 to what it explains as "an entity where our chairman's brother is an officer and entrepreneur."

The chief executive of H&H made two loans to the company last year total ling about $215,000.

What, exactly, does H&H do? Bloomberg states it purchases and markets ladies handbags. Other reports say the company sells sunglasses and distributes headphones.

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