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Aug 19 - 20 Year Old Student Made $110M off BBBY Stock



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 2 months ago '17        #1
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Mozzie  topics gone triple plat - Number 1 spot x13
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Aug 19 - 20 Year Old Student Made $110M off BBBY Stock
 

 
A 20-year-old college student went big on Bed Bath & Beyond at the right time, making close to $110 million off the meme-stock favorite after its share price quadrupled and before its buzziest stakeholder signaled plans to sell everything.

Jake Freeman, a math major, had amassed a 6.2 percent stake in the struggling housewares chain in July. He bought 4.96 million shares at $5.50 each through a Wyoming-based holding company he set up. On Tuesday — a day when the stock spiked above $27 a share before closing at $20.65, up 31 percent — he sold his stake. The Financial Times reported that his holdings were worth more than $130 million at the time.

His timing was impeccable: Within 24 hours, activist investor Ryan Cohen signaled that he intended to sell the 9.8 percent stake acquired though his venture capital firm RC Ventures. It was Cohen’s interest in Bed Bath & Beyond that lit up online message boards like Reddit’s r/WallStreetBets, driving up the share price. So when reports emerged Wednesday afternoon that Cohen had filed a Form 144 with the Securities and Exchange Commission — a notice of intention to sell shares — the stock slid in after-hours trading. It closed Thursday at $18.55, down 19.6 percent, and plunged another 35 percent after hours.

Cohen has a devoted following among small retail investors because of his key role in the GameStop frenzy. In late 2020 and early 2021, traders on Reddit and other online communities snapped up the video game retailer’s shares, intent on capitalizing on a company that many institutional investors had written off. The stock surged from nearly $5 to more than $480 — a stunning rise for a bricks-and-mortar business in decline. The run-up fueled froth and volatility, and the meme stock was born.

Small investors joined forces and went looking for other companies that Wall Street was shorting, or betting against. The strategy outlined on Reddit employed what is known as a short squeeze, in which those betting against a stock — usually hedge funds — are forced to buy shares to close out their position.

Cohen founded the online pet food company Chewy and later became the board chair of GameStop. His plan to revive the video game retailer was buoyed by an unexpected explosion of online enthusiasm for the company last year, sending its stock price vaulting upward and making it the first of many meme stocks. Others included the movie theater chain AMC, smartphone maker BlackBerry and telecom company Nokia.

Freeman attends the University of Southern California, where he’s studying applied mathematics and economics, according to the Financial Times. The report said he raised funds for the initial investment by Freeman Capital from friends and family. His LinkedIn profile indicates that he has interned at the New Jersey-based hedge fund Volaris Capital.

In a July 21 letter to the company’s board, he said Bed Bath & Beyond is “facing an existential crisis for its survival.” He encouraged it to stop burning through cash so quickly, restructure its capital, and raise more funding.

“Freeman Capital’s plan for the realignment of [Bed Bath & Beyond] consists of two crucial legs: cutting debt and raising capital,” he wrote.


Bed Bath & Beyond has been struggling for years. Its first-quarter sales were 25 percent lower than the previous year as the retailer posted a net loss of $358 million. It also has $1.37 billion in debt.

When the stock soared more than 300 percent as it gathered attention online, Freeman took the opportunity to liquidate his holdings, SEC filings show, selling $130 million worth of stock on Tuesday.

Freeman told the financial news site MarketWatch that he “did not expect the stock to soar as it did,” adding that he now thinks it has too much risk to the downside.

“I did expect that as [Bed Bath & Beyond] better structured its balance sheet for value to be unlocked. I felt at those elevated levels [the stock] was not worth it from a risk/reward standpoint.”

According to the Financial Times, Freeman and his uncle Scott Freeman, a former pharmaceutical executive, have separately taken an activist stake in the pharmaceutical company Mind Medicine, a New York-based company that focuses on psychedelic-inspired medicines.

visit this link https://www.washingtonpos .. d-bath-beyond/
+46   



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119 comments
 

Top 10 most slapped recently  2 months ago '22        #2
Mystic97  topics gone triple plat - Number 1 spot x2
Props total: 5883 5 K  Slaps total: 2240 2 K
This n*gga had millions to invest I'm not impressed
+500   

 2 months ago '10        #3
Account001 
Props total: 5502 5 K  Slaps total: 1177 1 K
4.96 million shares @ 5.50 each...
+177   

 2 months ago '11        #4
conrap 
Props total: 567 567  Slaps total: 42 42
 Mystic97 said
This n*gga had millions to invest I'm not impressed
Wealthy person had opportunity to get more wealthy by leveraging wealth. Tale as old as time.
+289   

 2 months ago '19        #5
GetYaCoinsKing  topics gone triple plat - Number 1 spot x1
Props total: 61876 61 K  Slaps total: 9828 9 K
sh*t that kinda pisses me off about this is how some of these capitalist cucks will argue that the average person could've done the same, Sure but the difference is that if the avg. person dropped their full paycheck on stocks they wouldn't be able to live, The rich does it for fun because if they lose they don't technically lose anything or face homelessness because of it.
+129   

 2 months ago '09        #6
messy marv stan  topics gone triple plat - Number 1 spot x89
Props total: 276241 276 K  Slaps total: 29623 29 K




thumbnail source
+31   

 2 months ago '17        #7
LostTenets  topics gone triple plat - Number 1 spot x48
Props total: 114156 114 K  Slaps total: 32769 32 K
Stories like these make a lot of people dump money into meme stocks
+52   

 2 months ago '21        #8
Fatt Kidd 
Props total: 8271 8 K  Slaps total: 2233 2 K
I saw BBBY and almost got mad because I saw a play and pulled out but this n*gga had real money in there. Still could have ate but not like that.
+32   

 2 months ago '17        #9
TheLastNonEarth  topics gone triple plat - Number 1 spot x22
Props total: 131669 131 K  Slaps total: 17303 17 K
Anybody else disappointed it wasn't shorty in the thumbnail?
+84   

 2 months ago '04        #10
Skilllz  topics gone triple plat - Number 1 spot x1
Props total: 34994 34 K  Slaps total: 3367 3 K
sh*t only way you make real money in stocks is taking big positions like that

definitely a rich mans game

or the poor man's way, slow and steady throughout a lifetime
+17   

 2 months ago '05        #11
OG T Gutta N  topics gone triple plat - Number 1 spot x5
Props total: 14467 14 K  Slaps total: 3811 3 K
word on conspiracy drive (reddit)

this was simply pump and dump fraud (with some convincing inconclusive info already deep dived in)

and this kid might not even exist as a person

you can read it here




Jake Freeman is a sockpuppet for BBBY bagholders who were hoping to cellarbox the company by undervaluing the stock and locking them into sh*tty terms. Their plan B is what we're seeing - a coordinated effort to drive the stock price down and make money off the downward swing.
one day soon , something big will happen to our market , and you'll remember all these lil post that sound like conspiracy begin to unravel as truth

and just like i've been posting about china real estate crisis being 10x 2008 and finally its getting attention months later

this will part of the puzzle as well , fraud and corruption are right in front of us

but i think a viral youtube or tiktok is the only thing that'll get the attention of most ppl

question EVERY piece of media you consume



the 4th branch is real
+33   

 2 months ago '05        #12
bklyn 
Props total: 6756 6 K  Slaps total: 3386 3 K
The guy spent 27 million or so to make that happen. Headline made it seem like some kid with maybe 1k made all that bank lol
+58   

 2 months ago '15        #13
TEE12ward 
Props total: 1239 1 K  Slaps total: 106 106
Dude is connected with pump in dump schemes with insiders!
+23   

 2 months ago '14        #14
blitvit 
Props total: 3202 3 K  Slaps total: 219 219
I bought 10 shares for around 4 bucks a while ago and forgot about it, missed the peak but it's still up 65%

Might as well hold on to it and see what happens

Edit bought it cause of wsb and saw a post here about it
+7   

 2 months ago '18        #15
Kodack sixnine  topics gone triple plat - Number 1 spot x82
Props total: 76657 76 K  Slaps total: 17009 17 K
Shouldn’t have sold
+2   

 2 months ago '06        #16
Stupid Fresh 
Props total: 17704 17 K  Slaps total: 3486 3 K
 Mystic97 said
This n*gga had millions to invest I'm not impressed
Right
+5   

 2 months ago '14        #17
Bigboi781  topics gone triple plat - Number 1 spot x27
Props total: 40737 40 K  Slaps total: 11080 11 K
There’s something fishy about this, if we’re being real. 25 million all on one stock doesn’t make any sense. Friends and family trusting that doesn’t make much sense tbh
+24   

 2 months ago '15        #18
isthistobe  topics gone triple plat - Number 1 spot x55
Props total: 85792 85 K  Slaps total: 9898 9 K
Thought it was some 20 year old with a BBL or BBW made $110M
+11   

 2 months ago '05        #19
OG T Gutta N  topics gone triple plat - Number 1 spot x5
Props total: 14467 14 K  Slaps total: 3811 3 K
 ThorLos said
:( I'll never hit the stock lotto
its not setup for you

its highly manipulated and stock price discovery is suppressed in the wildest ways

you are right in calling it a lotto

but its a rigged lotto and the lucky numbers are given to the elite because the own the lotto (literally)

and basically all you can hope is to claim that ticket with 3 winning numbers for $1k

if you want to win , you must follow the crime

if you want to follow crime before it takes place , you must believe in conspiracies

meaning listening to people you probably wouldn't listen to

Let me give you an example

2001 : Bed Bath & Beyond Is Still a Junk Company



2022: Bed, Bath & Beyond’s Disaster: What Happens When Brands Lose Their Visions



here is a thread of the entire sentiment of BBBY being a junk company being discussed literally 2 weeks ago




bad choice on every single media outlet but it pumped ?

Do you not get the picture now?

MSM controlled and bought by hedgefunds literally have controlled the sentiment of BBBY , literally driving individuals away from the pump , driving people to the dump , its fraud and corruption right in your face , both ways , up and down

this kid does not exist


Last edited by OG T Gutta N; 08-19-2022 at 05:56 PM..
+22   

 2 months ago '12        #20
OldBusiness  topics gone triple plat - Number 1 spot x4
Props total: 213430 213 K  Slaps total: 12380 12 K
 TheLastNonEarth said
Anybody else disappointed it wasn't shorty in the thumbnail?
I was mad as hell like who in the hell is Jake
+8   

 2 months ago '14        #21
Bigboi781  topics gone triple plat - Number 1 spot x27
Props total: 40737 40 K  Slaps total: 11080 11 K
 OG T Gutta N said
word on conspiracy drive (reddit)

this was simply pump and dump fraud (with some convincing inconclusive info already deep dived in)

and this kid might not even exist as a person

you can read it here






one day soon , something big will happen to our market , and you'll remember all these lil post that sound like conspiracy begin to unravel as truth

and just like i've been posting about china real estate crisis being 10x 2008 and finally its getting attention months later

this will part of the puzzle as well , fraud and corruption are right in front of us

but i think a viral youtube or tiktok is the only thing that'll get the attention of most ppl

question EVERY piece of media you consume




the 4th branch is real
This seems accurate. The fact that Jake Freeman was news so fast didn’t make any sense to me along with no LinkedIn profile or anything. Whole thing reeked of weirdness. Bbby is one of my accounts that I’m selling to
+9   

 2 months ago '10        #22
Rick Ross 
Props total: 23820 23 K  Slaps total: 1284 1 K
 ThorLos said
:( I'll never hit the stock lotto
Go all in on AMC before its too late.

Just do it
+4   

 2 months ago '04        #23
123456 
Props total: 1925 1 K  Slaps total: 237 237
People talking about he was rich to begin with…yea but he could’ve easily lost a ton too. He bought and sold at the park right prices. Trust me me and a lot of others have been looking at this but these stocks are risky as hell and can dump at the snap of a finger. So he took a huge risk putting 25 mil on there.
-3   

 2 months ago '17        #24
TheLastNonEarth  topics gone triple plat - Number 1 spot x22
Props total: 131669 131 K  Slaps total: 17303 17 K
 OldBusiness said
I was mad as hell like who in the hell is Jake
Right. Yte people winning in the finance game? That's news?
+2   

 2 months ago '13        #25
Jubz 
Props total: 8194 8 K  Slaps total: 188 188
Good for him..




fu*k this market & all the manipulation..
+5   



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