The next George Soros? How a 20-year-old made 110 million

Jake Freeman, a 20-year-old math and economics student at the University of Southern California made a $110 million profit in a few days betting on Bed Bath & Beyond stock as the home goods company became the latest meme stock and saw its value to soar.

On July 21, Freeman, who heads Freeman Capital Management, notified the US Securities and Exchange Commission that he has bought 5 million shares of Bed Bath & Beyond, or 6,2% of the company. In another update, he announced that he sold all of his shares on Tuesday.

During that time, Bed Bath & Beyond's stock more than tripled in value, going from $6 to over $20. And that's because investors flocked to the stock, hoping that its price would rise, just like other meme stocks like GameStop, AMC, and others.

Freeman paid $25 million for his stake (less than $5,5 a share) and sold it for at least $130 million, according to Business Insider.

"I certainly didn't expect such a sharp rally," Freeman told the Financial Times. "I thought it was going to be a six-month trade," he added, expressing shock that the stock had risen so quickly.

His timing was perfect, as on Wednesday Bed Bath & Beyond's stock fell as much as 19% after the company's largest shareholder and GameStop chairman Ryan Cohen announced his intention to sell his entire stake , which amounts to 12%.

Freeman was "introduced" to the world of investing by his uncle, Dr. Scott Freeman, a former pharmaceutical executive. The two have been investing together for years, the 20-year-old said. They also have a stake in Mind Medicine, a biotech company.

At 16, he co-authored an analysis of the risks of hedging CDS bonds with Vivek Kapoor, a former Credit Suisse executive and current head of hedge fund company Volaris Capital Management. At the same time, he has worked as an apprentice at Volaris.

According to Freeman, he raised the money for the Bed Bath & Beyond trade from friends and family.

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