10-year-old cashes in on GameStop shares that mom gifted him for Kwanzaa
Two years ago, Jaydyn Carr’s mother gifted him 10 shares of GameStop for $6 apiece.
Earlier this week, the investment paid off for the 10-year-old Texas shareholder.
He cashed in on his shares for more than $3,000 amid the stock market’s GameStop trading surge, the fifth grader reeling with excitement about the financially savvy move.
“My phone was going off, because I have GameStop on my watch list,” Carr’s mother Nina told mySA.com. “I was trying to explain to him that this was unusual, I asked him, ‘Do you want to stay or sell?'”
It wasn’t a hard decision for young Carr, who will put $2,200 of his earnings in savings and pour the remaining $1,000 back into investing.
On Dec. 30, 2019, Nina bought her son the $6 GameStock shares for Kwanzaa. She wanted the gift to reflect the principle of Ujamaa, which focuses on cooperative economics. She printed out a certificate so he’d have something to unwrap.
“Any time I learn something, I show him as well,” she said about investing with her son. “I wanted to pass on the knowledge I have not because I learned it late in life.
“I wanted to give him a step up.”
Carr has expressed further interest in trading, which his mother will continue helping him navigate.