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16 interview on the YouTube channel Psychedelic Invest.

“I’ve been in drug development since I was in high school,” Scott said in an Aug. The Freemans have built a 5.6% stake in the company and sent a strategic value enhancement plan to MindMed, outlining the fund's interest in working 'hand-in-hand' to cut the development time of MindMed's two original drugs and slash its annual cash-burn rate.Īnalyzing the letter, which the younger Freeman confirmed to Benzinga, FCM is focusing on MindMed's core drugs, cutting cash burn and terminating MindMed's at-the-money equity offering. The investor focus is now on MindMed, which was originally a privately owned company, Savant, co-founded Scott. Read more: EXCLUSIVE: Food Wholesaler Talks Crazy Chicken And Beef Prices - 'Fresh Meat Arbitrage' MindMed shares rocketed 77.4% from the previous day's highs on Thursday after the Bed Bath & Beyond sale was disclosed. MindMed Shares Skyrocket: Jake, who previously interned at Volaris Capital Management invests with his uncle Scott, who is the co-founder and former chief medical officer of Mind Medicine (MindMed) Inc (NASDAQ: MNMD). It closed at more than $130 million after spending $25 million in the initial investment, netting around $105-$110 million, or between 420%-460%. The Freeman Family Fund's sale was well-timed. Related Link: MindMed A Newly Minted Meme? College Student Who Made $100M On Bed Bath & Beyond Is Involved In Psychedelics Stock (NYSE: GME) Chairman, and initially sparked the Bed Bath & Beyond fanfare with the Apes, filed with the SEC saying he intended to sell as many as 9.45 million shares of the company beginning that day. The Bed Bath & Beyond Investor's Plan: In a July 21 letter to Bed Bath & Beyond, the younger Freeman outlined Freeman Capital’s plan for the realignment of the retailer, which consisted of two crucial legs: cutting debt and raising capital.įast forward just four weeks later, coupled with a carefully orchestrated short squeeze by Reddit's WallStreetBets community known as the 'Apes,' shares of Bed Bath rocketed to $28.60 at the highs on Tuesday - the same day Freeman Capital exited its entire stake in the company.Ĭuriously, on the same day, Cohen, who currently serves as the GameStop Corp. I did not expect in any way the stock going up so fast.” “I approached it more from a mathematical side - looking at the balance sheet and the intersection of the debt side, the equity. “I wasn’t that aware it was a meme stock,” the University of Southern California student told Benzinga on Thursday. That netted their Freeman Capital Management family fund a 6.21% passive stake in the meme stock. Freeman purchased 4.69 million shares of the retailer in July at roughly $5.20 per share, along with his uncle, Dr. Cohen’s profit on the stake in the retailer was $68.1 million in seven to eight months time.Ĭompare that to Jake Freeman, the 20-year-old college student who reportedly banked $100 million in less than two months trading Bed Bath & Beyond stock.

On Thursday, it was revealed that Cohen sold his entire position in the struggling retailer. New filings later revealed Cohen owned an 11.8% stake in Bed Bath that included stock and options. Ryan Cohen became a figurehead for the movement in Bed Bath & Beyond (NASDAQ: BBBY) shares, first announcing a stake of 9.8% in the retailer.

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