GameStop Frenzy Pays Off for 10-Year-Old

He got shares for $60, sold them for $3,200
By Newser Editors and Wire Services
Posted Jan 30, 2021 1:40 PM CST
Boy Cashes in on GameStop Frenzy
A GameStop sign is seen above a store, Thursday, Jan. 28, 2021, in Urbandale, Iowa.   (AP Photo/Charlie Neibergall)

A 10-year-old San Antonio boy made a killing by selling GameStop stock he was gifted more than a year ago, the AP reports. Jaydyn Carr's mother, Nina, spent $60 for 10 shares of the video game chain's stock in December of 2019 that she gave him for Kwanzaa to reflect Ujamaa, one of the festival's seven principles that focuses on cooperative economics. With GameStop's share price skyrocketing this week behind a speculative frenzy driven by a Reddit chat group, Jaydyn sold the shares Wednesday for a little less than $3,200, per the San Antonio Express-News.

“My phone was going off, because I have GameStop on my watch list,” Nina said of watching the share price surge. “I was trying to explain to him that this was unusual. I asked him ‘Do you want to stay or sell?’” The mother-son investing duo said $2,200 of the funds would go to Jaydyn’s savings account and that they'd put the other $1,000 toward future investing.

(Read more GameStop stories.)

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