Wealthsimple reposted this
Recently, we’ve spotted impostors pretending to be Wealthsimple on social media. Scammers are using our logo to advertise stock picks with amazing short-term returns. In reality, these criminals are running pump and dump scams - luring Canadians into group chats where they use high-pressure tactics to push penny stocks, before dumping their own shares and crashing the price. Remember: the real Wealthsimple will never recommend specific stocks in our ads, and we’ll never invite you to join a stock picking group chat. Instead, we built an AI-powered detection system that identifies potential pump-and-dump scams in real time, and automatically warns clients who might be about to buy in. Thank you CIRO / OCRI for drawing attention to this scam and setting the record straight. Check their latest investor alert for more details. And if you see an ad that looks too good to be true, it probably is. https://lnkd.in/eNHkKznW