Level Brands (LEVB) is among the latest 2017 Reg A+ IPOs – so far they are all trading below their IPO price.
Level Brands CEO, Martin A. Sumichrast, has a long, checkered past. His latest partner was running a huge Ponzi scheme.
Level Brands hired RedChip which has been aggressively promoting the stock on TV and in email and social media campaigns ahead of the lock-up expiry on May 17th.
Level Brands does not produce any products, it is a newly formed marketing company for products that have not generated much sales.
The company made a costly deal with Kathy Ireland just to use her brand name. She’s not an executive or director of the company.
Read the full report on Seeking Alpha here.
To read about Level Brands CEO Martin Sumichrast’s shady history of stock promotion, go here.