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Thursday, November 17, 2022 9:05:09 AM
Look at FTX which was valued at 32 BILLION DOLLARS earlier this year. Highly promoted by A-list celebrities like Tampa Bay Buccaneers quarterback Tom Brady and then wife supermodel Gisele Bündchen; actor Larry David; Golden State Warriors guard Stephen Curry; and businessman Kevin O’Leary.
And now FTX has filed for bankruptcy and a class-action suit has been filed against the company and its former CEO.
Someone who claims to be working for free to submit filings out of the kindness of their heart should set off alarm bells for every investor. What's in it for him? The warm, fuzzy feels from knowing he helped a bunch of money-hungry anonymous investors?
As I recall, SBES was rumored to be merging with a highfalutin Rx company.
In that case, I must say it's piqued my interest as to why the execs have chosen to risk the entire deal by having a volunteer submit the all-important documents necessary to affect the merger instead of hiring a professional.
Are they niggardly or just stupid? Judging by their résumés they're not stupid, so...skinflints?
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