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Are Pharma Stocks Harmful to Your Financial Health?

October 9, 2024 Blog

In the 1960s, Regulators determined that cigarettes were harmful to smokers’ health and a warning label was required to be on all cigarette packages. Later, cigarette makers were banned from advertising on television and in magazines.

Now there is a proliferation of glitzy ads for risky biotechnology stocks on CNBC and other financial television programs. These stocks include Nutriband (NTRB), which markets an abuse deterrent fentanyl product, bioAffinity (BIAF) tests for early stage cancer, and Creative Medical (CELZ), identifies novel biological therapeutics.

While these companies may offer some worthwhile products, many such companies have crashed and burned, leaving investors holding the bag.

Until recently, financial news networks did not permit advertising of individual company stories. Advertising on CNBC and other financial networks can give the imprimatur of legitimacy to untested and risky companies and give investors a false sense of security in the value of these risky and speculative stocks.

It seems time for the Securities and Exchange Commission to oversee stock advertising and consider a ban, or at least a danger warning label.

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