Wednesday, April 17, 2024

This just in – celebrities are not necessarily the best investment advisers

The U.S. Securities and Exchange Commission issued today a warning to investors about buying shares of special purpose acquisition companies (SPACs) based on endorsements from Hollywood actors, professional athletes, and famous musicians, reports Bloomberg. “It is never a good idea to invest in a SPAC just because someone famous sponsors or invests in it or says it is a good investment,” the agency said in a statement. In a related news flash, BIG Media reports that humans should not skydive without a parachute.

 

https://www.bnnbloomberg.ca/sec-warns-investors-about-buying-spacs-endorsed-by-celebrities-1.1575079

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