[ad_1]
10-year-old investor earns over $ 3,000 on 10 GameStop shares his mother bought him for $ 60 as a gift to Kwanzaa in 2019
- Jaydyn Carr’s mom Nina bought 10 GameStop shares in 2019 for around $ 60
- She gave them to her son as a Kwanzaa gift to teach him how to invest
- This investment lesson definitely paid off when Jaydyn, 10, racked up nearly $ 3,200 of those stocks amid GameStop’s recent buying spree.
- He now plans to buy more shares and looks into Microsoft and Roblox
A 10-year-old Texas investor earned more than $ 3,000 out of $ 60 in GameStop shares he received for Kwanzaa.
Jaydyn Carr’s mother Nina bought 10 shares of the company in 2019 and gave them to her son as a gift from Kwanzaa in an effort to teach him how to invest.
That investment lesson definitely paid off when Jaydyn racked up nearly $ 3,200 of those stocks amid the recent GameStop stock-buying frenzy, according to CNN.
Nina said stocks made sense to buy, especially because Jaydyn, who is in fifth grade, loves video games,
Jaydyn Carr, 10, (pictured) won over $ 3,000 from GameStop shares he donated to Kwanzaa in 2019
Jaydyn’s mother Nina bought 10 company shares in 2019 for around $ 60 and gave them to her son (pictured holding his GameStop share certificate in 2019) as a gift from Kwanzaa for the purpose of him learn to invest.
“ We were still there two years ago, just buying different video games, ” she told CNN.
“I was like, ‘I can give him the actions of the GameStop and give him something tangible to hold onto and that way he can enjoy it that way. “”
Nina bought the shares for around $ 60 and gave them to Jaydyn who wanted an XBox.
“It was really cool having shares in one of the companies that I used the most,” Jaydyn told CNN.
Little did they know that Nina’s $ 60 investment would turn into a payout of almost $ 3,200 when GameStop shares soared 1,800% thanks to a group of small Reddit investors. .
GameStop shares ended the day up nearly 70% on Friday as Robinhood eased restrictions on buying the unlikely darling of the market, even as the larger market slumped as the Dow lost 620 points amid concerns about bubble ripple effects.
When Carr saw the stock hit $ 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 literacy to make sure he is ready for his future. “We are African-Americans. You don’t see a lot of that in our community, ” she said
Jaydyn (pictured) said he is currently researching his next share purchases. He plans to put $ 2,000 in his savings account and invest the remaining $ 1,000
“ I wanted to sell it on the spot because I knew it could fall off in seconds, ” Jaydyn told CNN.
When they sold the stock, they made about $ 320 per share, for a total of almost $ 3,200.
Jaydyn said he is now looking for his next stock purchases. He plans to put $ 2,000 in his savings account and invest the remaining $ 1,000.
And if he is successful, he will likely buy shares of Microsoft and Roblox, a popular online gaming company.
Meanwhile, his mother said she would continue to teach her son financial literacy to make sure he was ready for his future.
“We are African-Americans. You don’t see a lot of that in our community, ” she told CNN.
“I wanted to give him a head start when it comes to learning these things because I learned it later in life and wish I had known sooner.
[ad_2]
Source link