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Jake Freeman, an American student, earned 110 million dollars in a month on Wall Street

  • Post category:Economy News
  • Reading time:3 mins read

On the financial markets, everything is possible: the big failures as well as the great successes. Those who like to take risks with their money have sometimes won millions when others have lost everything. Jack Freeman, an American student, is one of the lucky ones. His story was told by the very serious Financial Times.

The math and economics student at the University of Southern California pocketed $110 million in capital gains in one month. He bought shares in Bed Bath & Beyond, a drugstore specializing in household items, when they were at their lowest. At that time, many predicted the bankruptcy of the company. However, a few weeks later, the title started to rise again, driven by investments from individuals and companies such as GameStop and AMC. The student then sold all his shares. Within a month, the stock went from $5.5 when he bought it to $27 when he sold it. The 20-year-old therefore made a handsome profit.

As he explains to the British daily, he went to celebrate this gain at the restaurant.

Those who hope to copy it by making easy money, however, will be disappointed. To generate this added value, the student had to wager $27.5 million initially. He appealed to his family and friends to raise this sum. The day after he sold his shares, the price started to fall again. In short, he invested and withdrew his marbles at the right time.

According to Capital.fr, the regulator of the American markets could open an investigation into the rumors and the movements of the action Bed Bath & Beyond.

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Remember that investing in shares is risky and is not suitable for all profiles.