The stock market; where dreams come true or, in some cases, go to die. It’s more than just charts, statistics, and screaming investors; it is a place where sometimes the unbelievable can become a reality, as evident by the four stories we will share in this article.
So sit back, relax, and get ready to enter the twilight zone… or should we say, the trading zone?
The man who predicted Black Monday
Robert Prechter was a nobody. A relatively unknown analyst who became an overnight sensation as the man who predicted Black Monday.
In August 1987, he was the first to correctly predict that there would be a terrible market crash in October, a prophecy that came to fruition on October 19th, famously labeled “Black Monday.” As predicted, markets around the globe suffered a devastating crash that is to this day considered one of the worst in history.
By using an analysis technique called “The Elliot Wave Theory,” which was based on recurring price patterns driven by investor attitudes towards events occurring both within and outside investment markets, he was able to provide an almost accurate prediction that shook Wall Street to its core.
And while the day ruined the trading careers of most, Robert Prechter, and his billionaire business collaborator, Paul Tudor Jones II, became a success, earning a return of 200% for their investors, with Mr. Jones earning a reported paycheck of $100 million for the year!
Bed, Bath, and Beyond riches!
Jake Freeman was a college student when he decided to purchase a $25 million stake in Bed, Bath, and Beyond, a popular home goods company that was struggling at the time.
He used funds he was able to collect from friends and family, who had put their faith in him based on the fact that he was a financial wiz-kid who had made his first successful investment at age 13!
The unbelievable gamble earned Freeman a profit of $110 million when the price of the meme stock more than tripled, from under $6 to over $20, in the period between July 21, 2022, when Freeman opened his positions, and August 16, 2022, when he sold the entirety of his stocks (6,2% of the company).
The Bed Bath and Beyond stocks would later plummet as much as 19% on August 17, when just one day after Freeman sold his shares, Ryan Cohen (C.E.O. of GameStop), who was the largest shareholder, declared his intention to dump his entire 12% position in the company.
Long Island Iced Crypto
Long Island Iced Tea was a New York-based company that, as you may have guessed, primarily made beverages. Back in 2017, however, looking to capitalize on the crypto craze, the company made a bold move, changing its name to “Long Blockchain Corp” and shifting its focus to blockchain.
This unprecedented move led to concerns over fraud, which also caused the FBI to get involved. And though no wrongdoing was found, Nasdaq has refused to list the company until further notice.
A bad Apple decision
Do you recognize the name “Ronald Wayne”? If not, we wouldn’t be surprised. Believe it or not, Ronald was a co-founder of Apple Computer Company, which would later become known as Apple Inc. Yes, the same Apple that created the iPad and the iPhone!
One of the reasons why his name may have fallen into obscurity may very well be that poor Ronald decided to sell his shares less than two weeks after the company’s launch in 1976.
When everything was settled, Ronald Wayne walked away with about $2300 in his pocket. Unfortunately for him, had he stuck around, his shares in the company would have been worth as much as $95 billion today!
And if you think that is reason enough for Ronald to pull out his hair in frustration, wait till you hear this: in the early 90s, he also decided to sell the documents that tied him to the company, earning about $500. Two decades later, that same contract was worth $1.6 million!
Poor Ronald just couldn’t catch a break!
And there you have it—four unbelievable yet true stories from the stock markets that will test the limits of your disbelief. Whether these tales are inspiring or cautionary, they are excellent examples of the fact that anything is possible!
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
The wacky world of stock trading: 4 stories you won’t believe are true
The stock market; where dreams come true or, in some cases, go to die. It’s more than just charts, statistics, and screaming investors; it is a place where sometimes the unbelievable can become a reality, as evident by the four stories we will share in this article.
So sit back, relax, and get ready to enter the twilight zone… or should we say, the trading zone?
The man who predicted Black Monday
Robert Prechter was a nobody. A relatively unknown analyst who became an overnight sensation as the man who predicted Black Monday.
In August 1987, he was the first to correctly predict that there would be a terrible market crash in October, a prophecy that came to fruition on October 19th, famously labeled “Black Monday.” As predicted, markets around the globe suffered a devastating crash that is to this day considered one of the worst in history.
By using an analysis technique called “The Elliot Wave Theory,” which was based on recurring price patterns driven by investor attitudes towards events occurring both within and outside investment markets, he was able to provide an almost accurate prediction that shook Wall Street to its core.
And while the day ruined the trading careers of most, Robert Prechter, and his billionaire business collaborator, Paul Tudor Jones II, became a success, earning a return of 200% for their investors, with Mr. Jones earning a reported paycheck of $100 million for the year!
Bed, Bath, and Beyond riches!
Jake Freeman was a college student when he decided to purchase a $25 million stake in Bed, Bath, and Beyond, a popular home goods company that was struggling at the time.
He used funds he was able to collect from friends and family, who had put their faith in him based on the fact that he was a financial wiz-kid who had made his first successful investment at age 13!
The unbelievable gamble earned Freeman a profit of $110 million when the price of the meme stock more than tripled, from under $6 to over $20, in the period between July 21, 2022, when Freeman opened his positions, and August 16, 2022, when he sold the entirety of his stocks (6,2% of the company).
The Bed Bath and Beyond stocks would later plummet as much as 19% on August 17, when just one day after Freeman sold his shares, Ryan Cohen (C.E.O. of GameStop), who was the largest shareholder, declared his intention to dump his entire 12% position in the company.
Long Island Iced Crypto
Long Island Iced Tea was a New York-based company that, as you may have guessed, primarily made beverages. Back in 2017, however, looking to capitalize on the crypto craze, the company made a bold move, changing its name to “Long Blockchain Corp” and shifting its focus to blockchain.
This unprecedented move led to concerns over fraud, which also caused the FBI to get involved. And though no wrongdoing was found, Nasdaq has refused to list the company until further notice.
A bad Apple decision
Do you recognize the name “Ronald Wayne”? If not, we wouldn’t be surprised. Believe it or not, Ronald was a co-founder of Apple Computer Company, which would later become known as Apple Inc. Yes, the same Apple that created the iPad and the iPhone!
One of the reasons why his name may have fallen into obscurity may very well be that poor Ronald decided to sell his shares less than two weeks after the company’s launch in 1976.
When everything was settled, Ronald Wayne walked away with about $2300 in his pocket. Unfortunately for him, had he stuck around, his shares in the company would have been worth as much as $95 billion today!
And if you think that is reason enough for Ronald to pull out his hair in frustration, wait till you hear this: in the early 90s, he also decided to sell the documents that tied him to the company, earning about $500. Two decades later, that same contract was worth $1.6 million!
Poor Ronald just couldn’t catch a break!
And there you have it—four unbelievable yet true stories from the stock markets that will test the limits of your disbelief. Whether these tales are inspiring or cautionary, they are excellent examples of the fact that anything is possible!
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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