10-Year-Old GameStop Investor Saw Huge Return on Shares He Got on Kwanzaa: 'I Felt Shocked'
A 10-year-old boy in San Antonio, Texas, just cashed in on the best Kwanzaa gift ever.
Following this week's financial phenomenon, which saw GameStop's stock prices rise to new heights, Jaydyn Carr became one of the lucky traders to earn thousands of dollars on a stock that rose 1,700 percent since December, according to the New York Times.
Jaydyn's mother, Nina Carr, told CNN that she bought 10 shares of GameStop for about $60 as a Kwanzaa gift for her son in 2019.
"We were always there two years ago, just buying different video games," she explained. "I was like, 'I can give him the shares the GameStop and give him something tangible to hold on to and that way he can appreciate it that way.' "
Jaydyn said he thought the gift was "very cool" — despite wanting an XBox One that year — and his mom taught him to think of the gift as a long-term investment.
Nina said that the pair would occasionally check the stock price for fun but it wasn't until Wednesday that Jaydyn's gift saw major movement.
"All of a sudden, I heard 'ding, ding, ding, ding, ding,' " Nina told the Times of seeing the multiple stock alerts. "I grabbed my phone, and I was looking at it, and it said $351. I was shocked: 'I bought this thing at $6,' I thought, 'There's no way this can be right.' "
Nina said she ran into Jaydyn's room, where he was online for virtual school, explained to him the "unusual" situation, and asked what he wanted to do. "I wanted to sell it then and there because I knew it could drop in seconds," Jaydyn explained to CNN.
The fifth-grade student ended up selling his stock for about $320 a share, earning him almost $3,200.
"I felt shocked and excited at the same time," Jaydyn told the Times of his earnings, which was a return of more than 5,000 percent on his initial investment.
Following Jaydyn's success, Nina said her son is "ready to jump full force into the market" and will likely continue to invest. Jaydyn said he plans to save $2,200 of his earnings and invest the remaining $1,000.
"Long-term investing is important because that is how I got this money," Jaydyn said.
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