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The SEC says never invest in a SPAC based solely on a celebrity’s involvement

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The headquarters of the US Securities and Exchange Commission (SEC) is seen in Washington, DC, January 28, 2021.

Saul Loeb | AFP | Getty Images

The Securities and Exchange Commission on Wednesday issued a warning against special purpose acquisition companies backed by celebrities, urging investors to think twice before jumping in.

“Celebrity involvement in a SPAC does not mean that the investment in a particular SPAC or SPACs generally is appropriate for all investors,” the SEC said in an investor alert posted on its website.

“Celebrities, like anyone else, can be lured into participating in a risky investment or may be better able to sustain the risk of loss. It is never a good idea to…



Source cnbc.com

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