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Public.com Taps Michael Bolton To Lure New Traders To Its App

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Public.com Taps Michael Bolton To Lure New Traders To Its App

The online brokerage Public.com has recruited pop music legend Michael Bolton in a new advertising campaign that takes none-too-subtle jabs at Robinhood's controversial handling of the Reddit-fueled GameStop Corp. (NYSE: GME) short squeeze. 

What Happened: In an advertisement, Bolton addresses the camera and solemnly declares, "I know you've been disappointed by your stock brokerage. You might be thinking: ‘How can I ever trust again?'"

Bolton then assures the viewer: "I know a thing or two about breakups, and I'm here to help — and so is Public.com."

While encouraging the viewer to transfer from their current brokerage to Public.com — with Public.com covering the transfer fees — Bolton offers to sing a song and sails into a new version of his chart-topping "How Am I Supposed to Live Without You."

This version, however, includes barbed references about Reddit and order flow, a clear swipe at the GameStop chaos that put Robinhood in the hot seat.

The original title question is rephrased as "how am I supposed to trade without you" while montage plays of a smashing wine glass, a rose surrounded by flames and an empty beach at sunset.

Why It's Important: Public.com, which announced it reached the 1 million-member mark on Feb. 17, is using old-fashioned star power to call attention to itself.

Along with the advertisement, Bolton's investment portfolio with the company has been published on the Public.com website.

The singer-songwriter is focused on Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc (NASDAQ: AAPL), Walt Disney Co (NYSE: DIS), Peloton Interactive Inc (NASDAQ: PTON) and Spotify Technology SA (NYSE: SPOT), with Panera, which was delisted in 2017, on a watchlist.

Public.com also features several celebrities on its website as "investors and advisors," including Will Smith, J.J. Watt, Tony Hawk and The Chainsmokers. However, none of these stars have yet to get in front of the camera to talk about the company.

Image via Public.com.

 

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