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18.08.2022 17:02:11

Mind Med stock soars 52% after young investor who made $110 million on Bed Bath & Beyond names it as key holding

The stock of psychedelics company Mind Med Inc. soared 52% Thursday, after it was named by a young investorwho made $110 million from meme-stock favorite Bed Bath & Beyond as one of his other key holdings. Jake Freeman, who is a 20-year-old student, had purchased a 6.2% stake in the troubled retailer in July and SEC filings show he profited royally by Tuesday. Freeman has interned for New Jersey hedge fund Volaris Capital over the years, according to his LinkedIn profile. According to the FT, Freeman and his uncle Dr Scott Freeman, a former pharmaceutical executive, recently amassed an activist stake in Mind Med. Freeman is planning to have a "constructive" dialogue with the board of Mind Medicine alongside his study of complex analysis and mathematical statistics at USC. He's now studying for the GRE in math. Mind Med is a penny stock that was last quoted at $1.14. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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