20 year old college student makes $110M in BBBY in 3 weeks

https://www.zerohedge.com/markets/s...s-6-bed-bath-beyond-makes-110-million-3-weeks

 

I guess he would be happy to pay millions of dollars in tax.

BBBY chart is the day traders' dream.
over the last 1 year, there were 7 very tall mountain peaks.

 

Headline conveniently forgets to mention that he started off with a $27million investment.

 

Of course. Headline goal is to get you to read the article. In the article they do a pretty decent job explaining the story.

 

True, impressive nonetheless for the sheer amount of balls in it (but you know, 1 sample...)

 

90% chance he gives it back over the next few years.

 

^^^

 

"we thought it was stimulus checks that caused meme mania"
lolololololo, pinheads

 

soy

 

This story reeks of rampant nepotism:


Freeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family. He has invested for years with his uncle, Dr Scott Freeman, a former pharmaceutical executive. The two recently built an activist stake in a publicly traded pharmaceutical company called Mind Medicine.

There's more:

Freeman also said he had interned for years at a New Jersey hedge fund, Volaris Capital. Just before his 17th birthday, Freeman and its founder, Vivek Kapoor, a former Credit Suisse executive, published a paper titled “Irreducible Risks of Hedging a Bond with a Default Swap”.


So friends and family give this dude 25 million? Only when you are surrounded by people who came to money easy and have no qualms at being parted from money easily. Worked at hedge fund? He interned, was less than 18 and he CERTAINLY did not coauthor any papers unless such paper is total and utter garbage and the hedge fund he interned at is also utter garbage. If he was in any way bright he would certainly not be attending U. Southern California.

Here is my theory: Dad was pharmaceutical executive. Hedge fund founder was somehow involved (maybe received insider Information from daddy) and rubbed daddy's shoulder by letting son intern at the firm even put him on a publication. Son got lucky quadrupling his lottery ticket in BBBY. Story over.

Does not matter how much money he made. What matters is he gambled with investments from friend and family which he could have lost all in a few days with such crazy investment. He got lucky. A pure lottery ticket. Tens of thousand others lost their entire stake, or investment account, or life. I bet he thinks he is some activist specialist all of a sudden and writes a book next week.