March 25, 2022
As a twitter influencer with 120K followers(customarily, not under my real name) I will say this is exactly the kind of instrument that social media pump and dumpers target. Therefore I strongly urge SEC to deny SPARC.
As a matter of fact I have seen several pump and dumps, where an unethical social media influencer (furu) will buy and front-load only to immediately pump and dump on their followers. Ex. BTAQW jumped from fraction of a penny to ten cents and a famous Twitter influencer (bread man logo) dumped it on his followers while he made away with hundreds of thousands of dollars. Another Indian influencer from Canada dumped $VIH options on his followers. There were numerous such examples that come to my mind where influencers pumped and dumped SPAC warrants on their followers (PNTMW in Nov 2021).
SPARC is exactly the kind of instrument that these pump and dumpers would target as it has Pershing Square name (though notoriety) to fleece retail Investors. In fact I know a couple of influencers who have been salivating at SPARC waiting to pump and dump on their social media followers.
As a responsible social media Influencer spending hours daily seeing PD scams involving SPAC warrants, I strongly urge SEC to disapprove and deny SPARC. It would be a disaster otherwise for retail investors.