A 20 year old college student just CASHED OUT on Bed Bath and Beyond’s stock. Bro cooked up a 110 million dollar profit on a one month flip, which is probably one of the biggest, fastest flips ever. Jake Freeman and his family bought 5 million shares of the stock when it was at the lowest it’s been at around $5.50 per stock, totaling out to 25m spent. That’s a lot of money to put down on a dying company, and even more trust to have in your kid for suggesting that kind of boof ass investment.
People got to talking about the stock on Reddit threads, including Freeman himself, and that caused a HUGE surge in the stock, going up 500%, capping out at about 28 dollars a share on Tuesday. He then sold his stock for 130. MILLION. DOLLARS. That’s so much money. That breaks the “fuck you” money barrier and enters the “fuck you and your whole family” money zone. This kid is 20 years old and just played the stock market like OJ played the United States Judicial Branch. Per The Guardian, Freeman, whom studies applied mathematics and economics at the University of Southern California, said he was “shocked” at the speed of the surge in the stock.
At one point, Freeman and his estate owned 6% of Bed Bath and Beyond’s stock, which like, if you’re a 20 year old kid holding that kind of bread, you’re doing something right. He told fellow reddit users that he had been interested in finance since the age of 12, and then further explained why one should invest in BBBY. This then pulled users to flood the stock with purchases, skyrocketing the investment, paying off tabs left and right on Freeman’s future. I couldn’t imagine going to bed one night and then waking up and your entire college tuition could just be payed for, that’s nuts.
In short, this kid is never gonna have to work a day in his life because he played the system well for one month, good on him! 110 million dollars is not easy money to throw away, so buy that mansion in Beverly Hills, live long and party hard G! You earned it!
Information regarding this article was obtained from The Guardian.