So 50 Cent, businessman extraordinaire*, recently tweeted something positive about a company he has stock in. He has about a gajillion twitter followers, and thus the stock of the company shot up, only to quickly come crashing down. The SEC isn't sure if this constitutes a pump-and-dump crime for many reasons, one of which being that it isn't clear if 50 made money off the tweet. Anyway, welcome to the age of information, where 50 Cent is basically rewriting the rules on social media and white collar crime--I wonder if he has an MBA?
http://www.esquire.com/the-side/feature/50-cent-stock-picks-4847777
*I want that statement to be sarcastic so badly, but a 100 million dollar stake in Vitamin Water says otherwise.
No comments:
Post a Comment