Vivek Ramaswamy acquired the rights to a failed Alzheimer's drug very cheaply, reworked the failed trials to show improvement, and hyped the potential on Jim Cramer's investment show.

The IPO raised the most ever for a biotech company, and the stock skyrocketed, allowing Ramaswamy and his inner circle to cash out their shares. But when phase 3 trials were conducted, the drug flopped again, causing the stock to plummet 99% in one day.

https://boingboing.net/2023/08/31/vivek-ramaswamy-enriched-himself-while-costing-small-investors-their-life-savings-must-watch-5-min-video.html