Kid Gifted $6 GameStop Shares Two Years Ago Made $3,200 This Week
A 10-year-old boy has found himself $3,200 better off after the $6 GameStop shares he was gifted two years ago massively increased in value.
Nina Carr bought her son Jaydyn 10 GameStop shares for $6 each in December 2019 for Kwanzaa; a weeklong celebration held in the US which honours African heritage in African-American culture.
The mum wanted to give her son a gift reflective of Ujamaa, one of the seven principles of the festival which focuses on cooperative economics, and printed off a certificate of the shares to give to Jaydyn. Though she was ‘not into video games’ herself, she can’t deny what a good investment it was following the news about GameStop shares this week.
Hear Jaydyn and his mum discuss the shares below:
The value of GameStop rocketed recently after Reddit users bought up stocks, ultimately undermining bets that the company would fall. The move resulted in huge losses for big time investors, and saw amateur investors massively increase their wealth.
According to Chron, Nina was among those watching the chaos unfold within the stock market as a result of the scheme. She commented: ‘My phone was going off, because I have GameStop on my watch list.’
The mum, who described her son as her ‘duplicate’, told Jaydyn about what was going on with his stocks and stressed that it was unusual, asking him: ‘Do you want to stay or sell?’
Though stocks, investments and trading can be a very confusing business, Jaydyn said he wasn’t confused by what was going on and understood his mum’s urgency about the situation.
Any time I learn something, I show him as well. 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.
Jaydyn opted to cash in and ended up selling for a little under $3,200 on Wednesday morning, January 27. The pair have decided to put $2,200 in Jaydyn’s savings account and use the remaining $1,000 to invest in more stocks.
After his success with the GameStop shares, Jaydyn has expressed a keen interest in trading again in the future, with his eyes now set on the online game hub Roblox, which is preparing for its market debut.
Nina plans to teach the 10-year-old how to ‘read the charts’, and though she does wish she’d invested in GameStop for herself as well as Jaydyn, she’s going to ‘let him have his win’.
If you have a story you want to tell, send it to UNILAD via [email protected]
Most Read StoriesMost Read
CreditsChron.com and 1 other