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Her mother, Nina Carr, told CNN that she bought Jaydyn 10 shares of the company in 2019 as a gift from Kwanzaa because she wanted to teach him how to invest.
San Antonio’s fifth grader loves video games, so stock was a natural fit.
“We were still there two years ago, just buying different video games,” she said. “I was like, ‘I can give him the GameStop shares and give him something tangible to hold onto and that way he can enjoy it that way.'”
She bought the shares for about $ 60 and printed a share certificate which she framed and wrapped. He wanted an XBox One but said he liked the gift.
“It was really cool having shares in one of the companies that I used the most,” Jaydyn said.
He occasionally watched the stock prices for fun, but said his mother taught him to view it as a long-term investment.
Carr has been an active investor for approximately five years and has set up an alert to track the stock price.
Wednesday morning her phone started to go crazy. She saw that the stock had reached $ 350 and was rising and falling dramatically.
She ran to pick up her son, who was doing his virtual schoolwork in his bedroom, and quickly explained what was going on. She asked him what he wanted to do.
“I wanted to sell it on the spot because I knew it could fall off in seconds,” Jaydyn said.
They ended up selling the shares for around $ 320 per share, totaling almost $ 3,200, Carr said.
It was Jaydyn’s first stock, but he said he was researching his next purchases.
Carr said she teaches her son how to invest, save, take credit card debt and other financial topics that he will need to understand as he gets older.
“We are African-Americans. You don’t see a lot of that in our community, ”she said. “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.”
Her father passed away in 2014, which prompted her mother to make sure Jaydyn was financially literate.
“It’s my heritage,” she said. “I have to make sure he’s ready for the future.”
Jaydyn puts $ 2,000 in her savings account and plans to invest $ 1,000.
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