The stock now trades at less than 3 cents. Payne issued a report through his Fox-promoted website recommending Generex as a “long idea” for investors at $1.58. Payne was paid an undisclosed amount for a “consulting arrangement” to promote Generex Biotechnology Corporation.Payne claimed NXT could “turn $10,000 into $25,000.” The stock is now worthless. Payne was paid "$25,000 by a third party" to promote NXT Nutritionals Holdings.Payne claimed on that Brainy Brands could “help you profit 233%, turning $10,000 into $33,300.” The stock is now worthless. Payne was paid $40,000 to promote The Brainy Brands Company.The stock of those companies are now virtually worthless: Payne used his Fox credentials in promotional materials to assure skeptical investors that his advice was trustworthy. After joining Fox in 2007, Payne was compensated to push the prospects of three stocks, as Media Matters documented in July 2013.
That Payne has a talent for identifying growth may be a surprise to someone who followed some of Payne's previous stock advice. FBN executive vice president Kevin Magee praised Payne as having “an incredible talent for identifying growth sectors in the markets and we're excited to launch a new show dedicated to helping viewers spot these emerging investment prospects.” Financial analyst and Fox Business contributor Charles Payne, who has been fined by the Securities and Exchange Commission (SEC), been paid to promote now virtually worthless penny stocks, and smeared the poor as “indebted servants” to the government who are too “comfortable” living in poverty, is being rewarded with his own show, the network announced today.įox Business said the show, Making Money with Charles Payne, will debut on June 2 in the evening.
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