Us Student Makes 110M Profit Trading Bed Bath Beyond Meme Stock Money

Jake Freeman and his family bought nearly 5 million shares of the struggling U.S. home goods retailer at less than $5.50 a share in July for a total outlay of about $25 million. After a nearly 500% rise in shares, fueled by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130 million – crystallising a huge profit. They rose as high as $28 on Tuesday, when Freeman has sold most of his stake. Shares of Bed Bath & Beyond, which trade under the ticker BBBY, fell to $23 on Wednesday and fell a further 14% in premarket trading on Thursday to $19.70. Meme shares are those that soar regardless of the success of a business, thanks to hype on message boards and social media. They came to the fore early last year when shares in troubled companies such as US retailer GameStop soared, driven in part by a campaign to punish hedge funds that bet their value would fall. Although those stocks eventually pulled back, the meme stock trend rekindled this summer, with BBBY shares leading the way. Freeman, an applied mathematics and economics student at the University of Southern California, said he had been “shocked” by the speed of the stock’s rise. “I certainly didn’t expect such a vicious rally to the top,” Freeman told the Financial Times in an interview. “I thought this was going to be a six-month-plus game… I was really shocked that it went up so quickly.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Freeman, who has regularly interned at New Jersey hedge fund Volaris Capital, said he celebrated the trading success by going to dinner with his parents in the New York suburbs where they live. The student, who once owned more than 6.2% of BBBY through his Freeman Capital Management fund, according to US Securities and Exchange Commission (SEC) filings, said he raised the $25 million stake from friends and family . His uncle is Scott Freeman, a former pharmaceutical executive who helps manage the FCM fund. Timeline of 20-year-old USC student Jake Freeman’s $BBBY investment — JC Oviedo (@JCOviedo6) August 17, 2022 When his stake in BBBY was revealed last month, he wrote to the company’s board warning that the retailer was “facing an existential crisis for its survival”. “To achieve its survival, BBBY must reduce its cash burn rate, drastically improve its capital structure and increase its cash,” he said in the letter, according to a copy filed with the SEC. At the same time he introduced himself to members of the BBBY Reddit page with a post titled Giving BBBY a chance. “Hi everyone, I’m Jake Freeman,” he said. “I truly believe that FCM’s proposed plan likely provides a great opportunity for BBBY to succeed. It provides “buy-buy time”. Freeman told Redditors that he had “been working in finance since he was 14 and interested in finance since I was 12.” He said he was particularly interested in “the problem of planar isoperimetry under the Gaussian measure.” When he was 16, he wrote a paper entitled Irreducible Risks of Hedging a Bond with a Default Swap. BBBY shares fell in after-hours trading on Wednesday after Ryan Cohen, GameStop’s chairman and 12% shareholder, revealed he planned to sell his entire stake.

title: “Us Student Makes 110M Profit Trading Bed Bath Beyond Meme Stock Money Klmat” ShowToc: true date: “2022-10-28” author: “Kenneth Godwin”

Jake Freeman and his family bought nearly 5 million shares of the struggling U.S. home goods retailer at less than $5.50 a share in July for a total outlay of about $25 million. After a nearly 500% rise in shares, fueled by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130 million – crystallising a huge profit. They rose as high as $28 on Tuesday, when Freeman has sold most of his stake. Shares of Bed Bath & Beyond, which trade under the ticker BBBY, fell to $23 on Wednesday and fell a further 14% in premarket trading on Thursday to $19.70. Meme shares are those that soar regardless of the success of a business, thanks to hype on message boards and social media. They came to the fore early last year when shares in troubled companies such as US retailer GameStop soared, driven in part by a campaign to punish hedge funds that bet their value would fall. Although those stocks eventually pulled back, the meme stock trend rekindled this summer, with BBBY shares leading the way. Freeman, an applied mathematics and economics student at the University of Southern California, said he had been “shocked” by the speed of the stock’s rise. “I certainly didn’t expect such a vicious rally to the top,” Freeman told the Financial Times in an interview. “I thought this was going to be a six-month-plus game… I was really shocked that it went up so quickly.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Freeman, who has regularly interned at New Jersey hedge fund Volaris Capital, said he celebrated the trading success by going to dinner with his parents in the New York suburbs where they live. The student, who once owned more than 6.2% of BBBY through his Freeman Capital Management fund, according to US Securities and Exchange Commission (SEC) filings, said he raised the $25 million stake from friends and family . His uncle is Scott Freeman, a former pharmaceutical executive who helps manage the FCM fund. Timeline of 20-year-old USC student Jake Freeman’s $BBBY investment — JC Oviedo (@JCOviedo6) August 17, 2022 When his stake in BBBY was revealed last month, he wrote to the company’s board warning that the retailer was “facing an existential crisis for its survival”. “To achieve its survival, BBBY must reduce its cash burn rate, drastically improve its capital structure and increase its cash,” he said in the letter, according to a copy filed with the SEC. At the same time he introduced himself to members of the BBBY Reddit page with a post titled Giving BBBY a chance. “Hi everyone, I’m Jake Freeman,” he said. “I truly believe that FCM’s proposed plan likely provides a great opportunity for BBBY to succeed. It provides “buy-buy time”. Freeman told Redditors that he had “been working in finance since he was 14 and interested in finance since I was 12.” He said he was particularly interested in “the problem of planar isoperimetry under the Gaussian measure.” When he was 16, he wrote a paper entitled Irreducible Risks of Hedging a Bond with a Default Swap. BBBY shares fell in after-hours trading on Wednesday after Ryan Cohen, GameStop’s chairman and 12% shareholder, revealed he planned to sell his entire stake.

title: “Us Student Makes 110M Profit Trading Bed Bath Beyond Meme Stock Money Klmat” ShowToc: true date: “2022-12-12” author: “Todd Gruber”

Jake Freeman and his family bought nearly 5 million shares of the struggling U.S. home goods retailer at less than $5.50 a share in July for a total outlay of about $25 million. After a nearly 500% rise in shares, fueled by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130 million – crystallising a huge profit. They rose as high as $28 on Tuesday, when Freeman has sold most of his stake. Shares of Bed Bath & Beyond, which trade under the ticker BBBY, fell to $23 on Wednesday and fell a further 14% in premarket trading on Thursday to $19.70. Meme shares are those that soar regardless of the success of a business, thanks to hype on message boards and social media. They came to the fore early last year when shares in troubled companies such as US retailer GameStop soared, driven in part by a campaign to punish hedge funds that bet their value would fall. Although those stocks eventually pulled back, the meme stock trend rekindled this summer, with BBBY shares leading the way. Freeman, an applied mathematics and economics student at the University of Southern California, said he had been “shocked” by the speed of the stock’s rise. “I certainly didn’t expect such a vicious rally to the top,” Freeman told the Financial Times in an interview. “I thought this was going to be a six-month-plus game… I was really shocked that it went up so quickly.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Freeman, who has regularly interned at New Jersey hedge fund Volaris Capital, said he celebrated the trading success by going to dinner with his parents in the New York suburbs where they live. The student, who once owned more than 6.2% of BBBY through his Freeman Capital Management fund, according to US Securities and Exchange Commission (SEC) filings, said he raised the $25 million stake from friends and family . His uncle is Scott Freeman, a former pharmaceutical executive who helps manage the FCM fund. Timeline of 20-year-old USC student Jake Freeman’s $BBBY investment — JC Oviedo (@JCOviedo6) August 17, 2022 When his stake in BBBY was revealed last month, he wrote to the company’s board warning that the retailer was “facing an existential crisis for its survival”. “To achieve its survival, BBBY must reduce its cash burn rate, drastically improve its capital structure and increase its cash,” he said in the letter, according to a copy filed with the SEC. At the same time he introduced himself to members of the BBBY Reddit page with a post titled Giving BBBY a chance. “Hi everyone, I’m Jake Freeman,” he said. “I truly believe that FCM’s proposed plan likely provides a great opportunity for BBBY to succeed. It provides “buy-buy time”. Freeman told Redditors that he had “been working in finance since he was 14 and interested in finance since I was 12.” He said he was particularly interested in “the problem of planar isoperimetry under the Gaussian measure.” When he was 16, he wrote a paper entitled Irreducible Risks of Hedging a Bond with a Default Swap. BBBY shares fell in after-hours trading on Wednesday after Ryan Cohen, GameStop’s chairman and 12% shareholder, revealed he planned to sell his entire stake.

title: “Us Student Makes 110M Profit Trading Bed Bath Beyond Meme Stock Money Klmat” ShowToc: true date: “2022-10-29” author: “Gustavo Truax”

Jake Freeman and his family bought nearly 5 million shares of the struggling U.S. home goods retailer at less than $5.50 a share in July for a total outlay of about $25 million. After a nearly 500% rise in shares, fueled by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130 million – crystallising a huge profit. They rose as high as $28 on Tuesday, when Freeman has sold most of his stake. Shares of Bed Bath & Beyond, which trade under the ticker BBBY, fell to $23 on Wednesday and fell a further 14% in premarket trading on Thursday to $19.70. Meme shares are those that soar regardless of the success of a business, thanks to hype on message boards and social media. They came to the fore early last year when shares in troubled companies such as US retailer GameStop soared, driven in part by a campaign to punish hedge funds that bet their value would fall. Although those stocks eventually pulled back, the meme stock trend rekindled this summer, with BBBY shares leading the way. Freeman, an applied mathematics and economics student at the University of Southern California, said he had been “shocked” by the speed of the stock’s rise. “I certainly didn’t expect such a vicious rally to the top,” Freeman told the Financial Times in an interview. “I thought this was going to be a six-month-plus game… I was really shocked that it went up so quickly.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Freeman, who has regularly interned at New Jersey hedge fund Volaris Capital, said he celebrated the trading success by going to dinner with his parents in the New York suburbs where they live. The student, who once owned more than 6.2% of BBBY through his Freeman Capital Management fund, according to US Securities and Exchange Commission (SEC) filings, said he raised the $25 million stake from friends and family . His uncle is Scott Freeman, a former pharmaceutical executive who helps manage the FCM fund. Timeline of 20-year-old USC student Jake Freeman’s $BBBY investment — JC Oviedo (@JCOviedo6) August 17, 2022 When his stake in BBBY was revealed last month, he wrote to the company’s board warning that the retailer was “facing an existential crisis for its survival”. “To achieve its survival, BBBY must reduce its cash burn rate, drastically improve its capital structure and increase its cash,” he said in the letter, according to a copy filed with the SEC. At the same time he introduced himself to members of the BBBY Reddit page with a post titled Giving BBBY a chance. “Hi everyone, I’m Jake Freeman,” he said. “I truly believe that FCM’s proposed plan likely provides a great opportunity for BBBY to succeed. It provides “buy-buy time”. Freeman told Redditors that he had “been working in finance since he was 14 and interested in finance since I was 12.” He said he was particularly interested in “the problem of planar isoperimetry under the Gaussian measure.” When he was 16, he wrote a paper entitled Irreducible Risks of Hedging a Bond with a Default Swap. BBBY shares fell in after-hours trading on Wednesday after Ryan Cohen, GameStop’s chairman and 12% shareholder, revealed he planned to sell his entire stake.

title: “Us Student Makes 110M Profit Trading Bed Bath Beyond Meme Stock Money Klmat” ShowToc: true date: “2022-11-27” author: “Jason Duncan”

Jake Freeman and his family bought nearly 5 million shares of the struggling U.S. home goods retailer at less than $5.50 a share in July for a total outlay of about $25 million. After a nearly 500% rise in shares, fueled by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130 million – crystallising a huge profit. They rose as high as $28 on Tuesday, when Freeman has sold most of his stake. Shares of Bed Bath & Beyond, which trade under the ticker BBBY, fell to $23 on Wednesday and fell a further 14% in premarket trading on Thursday to $19.70. Meme shares are those that soar regardless of the success of a business, thanks to hype on message boards and social media. They came to the fore early last year when shares in troubled companies such as US retailer GameStop soared, driven in part by a campaign to punish hedge funds that bet their value would fall. Although those stocks eventually pulled back, the meme stock trend rekindled this summer, with BBBY shares leading the way. Freeman, an applied mathematics and economics student at the University of Southern California, said he had been “shocked” by the speed of the stock’s rise. “I certainly didn’t expect such a vicious rally to the top,” Freeman told the Financial Times in an interview. “I thought this was going to be a six-month-plus game… I was really shocked that it went up so quickly.” Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. Freeman, who has regularly interned at New Jersey hedge fund Volaris Capital, said he celebrated the trading success by going to dinner with his parents in the New York suburbs where they live. The student, who once owned more than 6.2% of BBBY through his Freeman Capital Management fund, according to US Securities and Exchange Commission (SEC) filings, said he raised the $25 million stake from friends and family . His uncle is Scott Freeman, a former pharmaceutical executive who helps manage the FCM fund. Timeline of 20-year-old USC student Jake Freeman’s $BBBY investment — JC Oviedo (@JCOviedo6) August 17, 2022 When his stake in BBBY was revealed last month, he wrote to the company’s board warning that the retailer was “facing an existential crisis for its survival”. “To achieve its survival, BBBY must reduce its cash burn rate, drastically improve its capital structure and increase its cash,” he said in the letter, according to a copy filed with the SEC. At the same time he introduced himself to members of the BBBY Reddit page with a post titled Giving BBBY a chance. “Hi everyone, I’m Jake Freeman,” he said. “I truly believe that FCM’s proposed plan likely provides a great opportunity for BBBY to succeed. It provides “buy-buy time”. Freeman told Redditors that he had “been working in finance since he was 14 and interested in finance since I was 12.” He said he was particularly interested in “the problem of planar isoperimetry under the Gaussian measure.” When he was 16, he wrote a paper entitled Irreducible Risks of Hedging a Bond with a Default Swap. BBBY shares fell in after-hours trading on Wednesday after Ryan Cohen, GameStop’s chairman and 12% shareholder, revealed he planned to sell his entire stake.