College student makes $110M trading shares of Bed Bath & Beyond

jcgriff2 · Aug 19, 2022

Since the pandemic, scores of novice daily traders have appeared online trying to rally stock prices for companies they think are worth it.

However, this type of activity reminds me of "pump and dump" tactics used by unscrupulous novice traders.

College student makes $110M trading shares of Bed Bath & Beyond

The SEC may be looking in.

John

axe0 · Aug 19, 2022

From reading the article, this sounds like the same that happened with GameStop where on Reddit a group planned and bumped the stock price from struggling firms to 'protect' the firm against certain traders. I don't remember what kind of traders got upset from this action though, and, due to lack of understanding how investment works + not knowing the rules around trading in the US, I also don't understand what was illegal about the action with GameStop as I recall something illegal happening with that action.

If everything in the article is accurate, which I'm not completely sure about, this college student is just lucky with their timing.

Corday · Aug 19, 2022

If you enjoy watching how high end traders work, see Devils at 9p.m. Eastern on the CW.

axe0 · Aug 20, 2022

That's out of the question for me, in my country I can't watch the CW.

A Guy · Aug 20, 2022

The college student just played it, this guy is the real culprit...chairman of GameStop

Former Hedge Fund Manager Calls Out Ryan Cohen's Bed Bath & Beyond Trade, Complains To SEC: 'What A Total Disgrace'

A Guy

Will · Aug 21, 2022

Although I feel like the reporting on this one leaves out the fact he had a much larger amount of capital than the average college student.

A Guy · Aug 21, 2022

Ya think?

A Guy

Will · Aug 25, 2022

A Guy said:
Ya think?

A Guy

If you can give me a small loan of $20million to get started, I can guarantee some good returns.

A Guy · Aug 26, 2022

The old "I managed to own my own home at only 20...My parents gave it to me for graduation..."

A Guy

jcgriff2 · Aug 30, 2022

Will Watts said:
If you can give me a small loan of $20million to get started, I can guarantee some good returns.

Some good returns or tax write-offs for stock trading losses? :0

Will · Aug 30, 2022

jcgriff2 said:
Some good returns or tax write-offs for stock trading losses? :0

Who said anything about buying stock?

Corday · Aug 30, 2022

Will Watts said:
Who said anything about buying stock?

I think John was commenting on the current state of the market.

jcgriff2 · Sep 29, 2022

Will Watts said:
Who said anything about buying stock?

You got me there.

jcgriff2 · Sep 29, 2022

axe0 said:
From reading the article, this sounds like the same that happened with GameStop where on Reddit a group planned and bumped the stock price from struggling firms to 'protect' the firm against certain traders. I don't remember what kind of traders got upset from this action though, and, due to lack of understanding how investment works + not knowing the rules around trading in the US, I also don't understand what was illegal about the action with GameStop as I recall something illegal happening with that action.

If everything in the article is accurate, which I'm not completely sure about, this college student is just lucky with their timing.

You are correct about GameStop.

The problem with these 'schemes' - they span countries world wide and of course include people in countries who could care less about market regulations, insider trading, etc... and simply let people do whatever they want. So 100s or 1,000s+ get together and start buying a near-worthless stock, then start promoting it, investing more in it, etc...

Those in the conspiracy then select a sale price so now collectively a good-sized group owns 100k or even 1 MM shares - most bought at ~0.25 and after several weeks of hyping the stock on social media causing that $0.25/hare stock to now be worth over $100/share. 30-60 minutes before the stock exchange closes for the day, the conspirators begin to dump all shares. However, people are still buying (mostly late-comers catching up on SM posts) which offsets the massive selling and keeps the stock price artificially high through the market close.

Quite a few have now made huge profits and it won't be apparent until the opening bell the next morning at 9:30 that most have lost just about every cent invested.

"Pump 'n Dump".

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College student makes $110M trading shares of Bed Bath & Beyond

jcgriff2

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axe0

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Corday

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axe0

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A Guy

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Will

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A Guy

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Will

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A Guy

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jcgriff2

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Will

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Corday

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jcgriff2

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Microsoft MVP (Ret.)

jcgriff2

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Microsoft MVP (Ret.)

College student makes $110M trading shares of Bed Bath & Beyond

Co-Founder / AdminBSOD Instructor/ExpertMicrosoft MVP (Ret.)

Administrator, BSOD Academy Instructor, Security Analyst

Moderator

Administrator, BSOD Academy Instructor, Security Analyst

Righteous Dude

Senior Administrator

Righteous Dude

Senior Administrator

Righteous Dude

Co-Founder / AdminBSOD Instructor/ExpertMicrosoft MVP (Ret.)

Senior Administrator

Moderator

Co-Founder / AdminBSOD Instructor/ExpertMicrosoft MVP (Ret.)

Co-Founder / AdminBSOD Instructor/ExpertMicrosoft MVP (Ret.)

Co-Founder / Admin
BSOD Instructor/Expert
Microsoft MVP (Ret.)

Administrator,
BSOD Academy Instructor,
Security Analyst

Administrator,
BSOD Academy Instructor,
Security Analyst

Co-Founder / Admin
BSOD Instructor/Expert
Microsoft MVP (Ret.)

Co-Founder / Admin
BSOD Instructor/Expert
Microsoft MVP (Ret.)

Co-Founder / Admin
BSOD Instructor/Expert
Microsoft MVP (Ret.)