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The Guardian - UK

Business

Rupert Neate Wealth correspondent

US student makes $110m profit trading meme stock Bed Bath & Beyond

BBBY United States Bed, Bath & Beyond FCM GameStop Reddit

A Bed Bath & Beyond store in New York. — Bed Bath & Beyond shares rose to $28 on Tuesday, when Jake Freeman is thought to have sold most of his stake. Photograph: Carlo Allegri/Reuters

A 20-year-old US university student has made a $110m (£91m) profit with a one-month bet on the meme stock Bed Bath & Beyond.

Jake Freeman and his family bought almost 5m shares in the struggling US homeware retailer at less than $5.50 a share in July for a total outlay of about $25m.

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