The ten-year-old investor earns more than $ 3,000 from 10 GameStop shares his mother bought for $ 60 as a gift from Kwanzaa in 2019
- Jaydyn Carr’s mother, Nina, bought 10 GameStop shares in 2019 for about $ 60
- She gave them to her son as a gift from Kwanzaa to teach him how to invest
- That investment lesson was definitely worth it when 10-year-old Jaydyn accumulated nearly $ 3,200 from these stocks amid the recent GameStop buying frenzy
- He now plans to buy other shares and is looking at Microsoft and Roblox
A 10-year-old Texan investor made more than $ 3,000 with $ 60 in GameStop shares he won for Kwanzaa.
Jaydyn Carr’s mother, Nina, bought 10 shares of the company in 2019 and gave them to her son as a Kwanzaa present in an offer to teach him how to invest.
That investment lesson was definitely worth it when Jaydyn amassed nearly $ 3,200 from these stocks amid GameStop’s recent stock-buying frenzy, according to CNN.
Nina said it made sense to buy the shares, especially since Jaydyn, who is in fifth grade, loves video games,
Ten-year-old Jaydyn Carr (pictured) won over $ 3,000 from GameStop shares he gave to Kwanzaa in 2019
Jaydyn’s mother, Nina, bought 10 shares of the company in 2019 for around $ 60 and gave them to her son (pictured holding her GameStop share certificate in 2019) as a Kwanzaa present in an offer to teach him how to invest
“We have always been there for two years, just buying different video games,” she told CNN.
‘I was like,’ I can give him GameStop shares and give him something tangible to hold on to and that way he can enjoy it that way. ”
Nina bought the shares for about $ 60 and gave them to Jaydyn, who was looking for an Xbox.
“It was really cool to have shares in one of the companies that used it the most,” Jaydyn told CNN.
Little did they know that Nina’s $ 60 investment would turn into a payment of nearly $ 3,200 when GameStop’s shares soared 1,800% thanks to a Reddit group of small investors. .
On Friday, GameStop’s stock ended the day up almost 70 percent, with Robinhood easing restrictions on buying the unlikely market darling, even as the broader market plummeted, with the Dow dropping 620 points in half concerns about the bubble’s spreading effects.
When Carr saw the stock reach $ 350 last week, she said she quickly went to her son and asked if he wanted to cash out.
His mother, Nina (left) said she will continue to teach her son financial education to make sure he is prepared for the future. “We are African-Americans. You don’t see much of it in our community, ‘she said
Jaydyn (pictured) said he is now researching his next stock purchases. He plans to put $ 2,000 into his savings account and invest the other $ 1,000
“I wanted to sell it at the time because I knew it could go down in seconds,” Jaydyn told CNN.
When they sold the shares, they earned about $ 320 per share, for a total of almost $ 3,200.
Jaydyn said he is now researching his next stock purchases. He plans to put $ 2,000 into his savings account and invest the other $ 1,000.
And if he succeeds, he will likely buy shares in Microsoft and Roblox, a popular online gaming company.
In the meantime, his mother said she will continue to teach her son financial education to make sure he is prepared for the future.
“We are African-Americans. You don’t see much of it in our community, ‘she told CNN.
‘I wanted to take him a step further when it comes to learning these things because I learned them later in life and I would have liked to know earlier.’