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CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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Who says you can’t make money from meme stocks?
It is every bit as incredible as it sounds.
A 20 year old university student in California just 5X his entire portfolio and made $130M from one trade.
Meet Jake Freeman, who probably know more about Wallstreetbets on Reddit that you and I.
What stock was it?
Bed Bath & Beyond (BBBY).
Yes, I know, the ticker is quite cute.
But the story of BBBY isn’t cute.
A well known department store in the US, they sell everything from candle sticks to blankets.
They have been struggling throughout the pandemic and earnings aren’t doing well at all.
So when the stock was at $5.50 a piece, Jake our meme stock hero, decided to buy it.
A lot of it.
Around $25M worth to be exact.
That is when the unforeseeable happened.
BBBY stock price started to climb against all odds and reasons.
Why?
If I knew, they would have interviewed me on national TV.
But I guess it is the combination of meme stock fever, reddit, retail investors FOMO-ing in and Ryan Cohen’s announcement that he was going to dump his 12% stake in BBBY.
Billionaire Ryan Cohen pocketed a $68.1 million profit from the sale of his stake in Bed Bath & Beyond Inc., scoring a 56% gain on an investment he held for roughly seven months.
Ryan is the billionaire founder of pet food company Chewy and Chairman of GameStop, who loves buying meme stocks and starting a movement.
So I wouldn’t say Jake was playing with his lunch money, he seems like a pretty serious and legit investor.
Apparently, he interned at a hedge fund at 17 and has been investing for years already.
I recall being overjoyed over a Nintendo Gameboy when I was 17 so we clearly aren’t the same.
A few questions I have swirling my head.
What instigated Jake to buy, of all stocks, BBBY?
Knowing full well it wasn’t doing well at all and their recent quarterly reports were pretty sad, indicating no reason for anyone to believe the tock price will moon.
What divine powers did Jake have to know when to sell?
He kind of sold almost at the peak of $27 before it went back down.
I want whatever he is drinking to get soothsayer powers.
Also, let’s be honest, a 20 year old with $25M lying around to invest, isn’t exactly your typical college kid.
At one point, he literally owned 6% of BBBY!
Pretty sure with this monumental success, Jake can do anything he pleases next.
Ok so it wasn’t just Jake, he was managing a lot of money for friends and family.
And he probably lucked out on a really risky bet.
And meme stock fever probably had a big hand in in too.
But isn’t it utterly awesome that in this day and age, a 20 year old student can make $110M from the stock market?
It may be a lucky strike, a privileged kid with money making money, but it is still an awesomely wild story.
Whatever the case, imagine just how crazy a resume Jake would have: I made $130M in a single trade at age 20, before I even graduated from university.
-
Have you made money from the stock market recently?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #memestock #meme #reddit #gamestop #stocks #ryancohen #bbby #college #eth #btc #crypto #hackers #jakefreeman
Who says you can’t make money from meme stocks?
It is every bit as incredible as it sounds.
A 20 year old university student in California just 5X his entire portfolio and made $130M from one trade.
Meet Jake Freeman, who probably know more about Wallstreetbets on Reddit that you and I.
What stock was it?
Bed Bath & Beyond (BBBY).
Yes, I know, the ticker is quite cute.
But the story of BBBY isn’t cute.
A well known department store in the US, they sell everything from candle sticks to blankets.
They have been struggling throughout the pandemic and earnings aren’t doing well at all.
So when the stock was at $5.50 a piece, Jake our meme stock hero, decided to buy it.
A lot of it.
Around $25M worth to be exact.
That is when the unforeseeable happened.
BBBY stock price started to climb against all odds and reasons.
Why?
If I knew, they would have interviewed me on national TV.
But I guess it is the combination of meme stock fever, reddit, retail investors FOMO-ing in and Ryan Cohen’s announcement that he was going to dump his 12% stake in BBBY.
Billionaire Ryan Cohen pocketed a $68.1 million profit from the sale of his stake in Bed Bath & Beyond Inc., scoring a 56% gain on an investment he held for roughly seven months.
Ryan is the billionaire founder of pet food company Chewy and Chairman of GameStop, who loves buying meme stocks and starting a movement.
So I wouldn’t say Jake was playing with his lunch money, he seems like a pretty serious and legit investor.
Apparently, he interned at a hedge fund at 17 and has been investing for years already.
I recall being overjoyed over a Nintendo Gameboy when I was 17 so we clearly aren’t the same.
A few questions I have swirling my head.
What instigated Jake to buy, of all stocks, BBBY?
Knowing full well it wasn’t doing well at all and their recent quarterly reports were pretty sad, indicating no reason for anyone to believe the tock price will moon.
What divine powers did Jake have to know when to sell?
He kind of sold almost at the peak of $27 before it went back down.
I want whatever he is drinking to get soothsayer powers.
Also, let’s be honest, a 20 year old with $25M lying around to invest, isn’t exactly your typical college kid.
At one point, he literally owned 6% of BBBY!
Pretty sure with this monumental success, Jake can do anything he pleases next.
Ok so it wasn’t just Jake, he was managing a lot of money for friends and family.
And he probably lucked out on a really risky bet.
And meme stock fever probably had a big hand in in too.
But isn’t it utterly awesome that in this day and age, a 20 year old student can make $110M from the stock market?
It may be a lucky strike, a privileged kid with money making money, but it is still an awesomely wild story.
Whatever the case, imagine just how crazy a resume Jake would have: I made $130M in a single trade at age 20, before I even graduated from university.
-
Have you made money from the stock market recently?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #memestock #meme #reddit #gamestop #stocks #ryancohen #bbby #college #eth #btc #crypto #hackers #jakefreeman
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