After turning $35k into $10 million, Kevin Xu decided to do it again.

He opened another challenge account with $35k, which at one point rose to nearly $100k, then fell back to the starting point; it’s now about $45k.
On his previous round, which began in January 2020, he placed only one stock at a time in his retirement account—no leverage, no options. Typically, he would wait until a stock rose by about 20%, then sell it and switch to the next one.
His biggest single profit came from Big 5 Sporting Goods.
He invested about $6 million, at one point holding nearly 1% of this company, and ultimately made about $1.7 million.
The most volatile time was Rocket Companies: the account increased by about $1.2 million in a day, then gave back about $1.0 million the next day.
He also bought GameStop quite early.
In October 2020, he bought 88,233 shares around $13 and sold them in December at $15.50.
A month later, the short squeeze began. He estimated that if he had kept holding all the way to the peak, he might have earned $30 million to $40 million, though that’s just hypothetical missed gains.
His old account is currently about $11 million, most of which has already been moved into S&P 500 and Nasdaq-100 index funds.
The new challenge account later bet on the drone company Red Cat and also bought an ETF that tracks double the upside and downside moves. These trades pulled the account from close to $100k back to around $35k, and now it’s back to about $45k.