It started with mail, then email, now is it Twitter? A long time scheme in the penny stock world is to pump up the stock get millions of dollars committed from suckers, then dump the stock and leave those new buyers holding the bag.
Not that 50 Cent did this, but this may become a new technique. Using Twitter, 50 Cent (yeah the rapper) tweeted this company HNHI -- a distributor of headphones, the stock gained 240%, which added $50MM in Market Cap.
Could this be the new wave of the future? Using Twitter for penny stock 'Pump & Dump' scams?
3 months ago
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