Ten-year-old investor earns more than $ 3,000 on 10 GameStop shares his mother bought him for $ 60 as a Kwanzaa gift in 2019
- Jaydyn Carr’s mother, Nina, bought 10 shares of GameStop stock in 2019 for about $ 60
- She gave them to her son as a Kwanzaa gift to teach him about investing
- That lesson in investing certainly paid off when 10-year-old Jaydyn made nearly $ 3,200 from those stock during the recent GameStop buying frenzy.
- He now has plans to buy other stock and is looking to Microsoft and Roblox
A 10-year-old investor in Texas has made more than $ 3,000 from $ 60 in GameStop stock as a gift for Kwanzaa.
Jaydyn Carr’s mother, Nina, bought 10 shares of the company’s stock in 2019 and gave them to her son as a Kwanzaa gift in an effort to teach him about investing.
That lesson in investing certainly paid off when Jaydyn made nearly $ 3,200 from those stock amid the recent GameStop stock buying frenzy, according to CNN.
Nina said the stock just made sense to buy, especially since Jaydyn, who is a fifth grader, loves video games,
Ten-year-old Jaydyn Carr (pictured) made more than $ 3,000 from GameStop stock given to Kwanzaa in 2019
Jaydyn’s mother, Nina, bought 10 shares of the company’s stock for about $ 60 in 2019 and gave them to her son (pictured with his GameStop stock certificate in 2019) as a Kwanzaa gift in an effort to teach him about investing
“We were always there two years ago and just bought different video games,” she told CNN.
“I was like,” I can give him the shares of the GameStop and give him something tangible to hold on to and that way he can appreciate it that way. ”
Nina bought the stock for about $ 60 and gave them to Jaydyn who wanted an XBox.
“It was really cool that I got shares in one of the companies I used the most,” Jaydyn told CNN.
Little did they know Nina’s $ 60 investment would turn into a nearly $ 3,200 payout when GameStop stock surged 1,800 percent thanks to a Reddit group of small investors. .
On Friday, GameStop shares ended the day at nearly 70 percent, as Robinhood eased restrictions on the unlikely market enthusiast’s buying even as the broader market hit, with the Dow dropping 620 points over concerns about the bubble’s ripple effects.
Last week, when Carr saw the stock was at $ 350, she said she quickly went to her son and asked him if he wanted to cash out.
His mother, Nina (left), said she will continue to teach her son financial literacy to ensure he is prepared for his future. ‘We are African Americans. You don’t see that much in our community, ”she said
Jaydyn (pictured) said he is now researching his next stock purchases. He plans to put $ 2,000 in his savings account and invest the other $ 1,000
“I wanted to sell it then and there because I knew it could fall in seconds,” Jaydyn told CNN.
When they sold the stock, they made about $ 320 per share, for a total of nearly $ 3,200.
Jaydyn said he is now investigating his next stock purchases. He plans to put $ 2,000 in his savings account and invest the other $ 1,000.
And if he’s having a good time, he’s likely going to buy stock in Microsoft and Roblox, a popular online game company.
Meanwhile, his mother said she will continue to teach her son financial literacy to ensure he is prepared for his future.
‘We are African Americans. You don’t see that much in our community, ”she told CNN.
“I wanted to take him one step further when it comes to learning these things because I learned it later in life and I wish I had known it sooner.”