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Forbes Media President Steve Forbes shares his thoughts on the soaring stock price of GameStop and other names this week.
SAN ANTONIO (AP) – A 10-year-old boy from San Antonio has committed murder by selling GameStop shares he was endowed with over a year ago.
Jaydyn Carr’s mother, Nina, spent $ 60 on 10 shares of the video game chain in December 2019 which she gave him for Kwanzaa to reflect Ujamaa, one of the festival’s seven tenets which focuses on l cooperative economy.
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As GameStop’s share price soared this week behind a speculative frenzy driven by a Reddit focus group, Jaydyn sold the shares on Wednesday for just under $ 3,200, the San Antonio Express-News reported.
Pedestrians walk past a GameStop store on 14th Street in Union Square on Thursday, January 28, 2021, in the Manhattan neighborhood of New York City. (AP Photo / John Minchillo)
“My phone was ringing because I have GameStop on my watch list,” Nina said, watching the share price soar. “I was trying to explain to him that this was unusual. I asked him “Do you want to stay or sell?”
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The mother-son investor duo said $ 2,200 of the funds would go to Jaydyn’s savings account and that they would put the remaining $ 1,000 into future investments.
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