![]() ![]() ![]() While he saw that outcome as a real possibility if the company didn't take action, he believed that if it adjusted its capital structure, it could raise more cash and gain more time to save its business. The college student's Freeman Capital Management sold its entire position less than a month later for over $130 million - close to BBBY's entire market capitalization at Friday's close.įreeman, aged only 20 at the time, said that he bought BBBY stock because it appeared to be priced for bankruptcy. Meanwhile, Jake Freeman paid about $25 million for a 6.2% stake in BBBY, which he first revealed in late July. He flagged BBBY aggressively repurchasing stock then reporting heavy losses as a major red flag. ![]() "My views of the business clearly changed," Cohen, who pushed for changes at the company, said about the disposals last year. ![]()
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