A 10-year-old from San Antonio, Texas may be the youngest investor to cash in on the surprising surge in GameStop stocks.
Jaydyn Carr didn’t think twice after his mother, Nina, gifted him ten GameStop shares for Kwanzaa back in December of 2019. At the time, each share was only worth $6.
Since the company’s stock skyrocketed from single to triple digits in the past week, the fifth-grader cashed in his shares on Wednesday for a whopping $3,200, the San Antonio Express-News reported.
"My phone was going off, because I have GameStop on my watch list," the mother said of watching prices skyrocket. "I was trying to explain to him that this was unusual, I asked him 'Do you want to stay or sell?'"
Jaydyn’s earnings come as GameStop stock soared after a roller-coaster week on Wall Street fueled by traders on Reddit. Luckily, Jaydyn and his mom realized the trading frenzy and acted quickly.
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Nina told the outlet that her stock-savvy son is her “duplicate” and has always taken an interest in finances. During Kwanzaa of 2019, the mother wanted to give her son the gift of Ujamaa, one of the seven principles of the festival which focuses on cooperative economics.
"Any time I learn something, I show him as well," Nina said. "I wanted to pass on the knowledge I have now because I learned it late in life. I want to give him a step up."
The power duo said they are putting $2,200 of the funds to Jaydyn’s saving account, and using the remaining $1,000 to continue investing.
“I have to train him to let him know you can’t just buy anything — you have to read the charts,” his mom told the paper, admitting that she wishes she’d snagged some shares for herself back in 2019.
“I’m going to let him have his win,” Nina said.
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