https://www.ft.com/content/1b21bb08-6590-49c6-8baa-5ad8c527fbcc
From the article: “A 20-year-old university student has made a roughly $110mn gain by selling a stake in struggling retailer Bed Bath & Beyond, after its stock price soared during a month of frenzied trading reminiscent of last year’s meme stock boom. Jake Freeman, an applied mathematics and economics major at the University of Southern California, acquired nearly 5mn shares in Bed Bath & Beyond in July, according to regulatory filings, after dismal earnings and the ousting of its chief executive sent its stock price plummeting. Freemen bought his stake at under $5.50 a share. On Tuesday, Bed Bath & Beyond surged to more than $27 a share. As the stock soared, Freeman sold more than $130mn worth of stock from his TD Ameritrade and Interactive Brokers accounts.”
So college student had 20mil cash and was able to gamble for 5x return? Not quite what the headline implies when daddy was footing the bill
Yeah wtf. Just a casual 20 mil bet. Why the fuck are you in college. The only way the gains would possible without a massive hoard of cash would be options perfectly timed. And you’d still need a lot of money to get there.
Cause every student has 25 million bucks to throw into meme stocks
Is this comment proof that critical thinking has been eliminated in the newsreading public and replaced with pavlovian conditioning like "lul dats fake news!1" upon seeing something starting with a certain letter (F in this case), and this conditioning reinforced in Skinner Boxes like reddit with fake social approval points as positive stimuli? Or coincidence
Brokerage and hedge funds want fake news like this to become popular
Fake news to make it a meme stock. Poor folks buying at top will baghold
25m capital turning into 110m gambling in meme stock doesn’t sound so impressive after all
I like Riley Reid. Do you too?
Sounds fake
Exactly