Texas Fifth-Grader Sells GameStop Shares He Was Gifted For Kwanzaa
Houston fifth-grader Jaydyn Carr may not have been among the buyers of GameStop’s most recent stock surge, but that doesn’t make his trade in any less valuable.
The 10-year-old was given 10 shares of the publicly-traded company for Kwanzaa two years ago by his mother Nina Carr. She paid $6 per share. On Wednesday morning, GameStop's stock price had skyrocketed to $372, and during that time, Jaydyn sold his shares for a little under $3,200. It earned him over 53 times the investment his mother provided him.
Nina Carr says she’s been teaching her son about trading and bought him the GameStop shares in an embrace of Ujamaa; a Kwanzaa principle focused on cooperative economics.
Nina says she even made her then–8-year-old son a certificate of ownership so he could have a tangible present to unwrap.
“My phone was going off, because I have GameStop on my watch list,” Nina told the San Antonio Express-News. “I was trying to explain to him that this was unusual. I asked him, ‘Do you want to stay or sell?’ ”
While Jaydyn may have made a smart move in selling his GameStop, it’s only the beginning of his journey in investing. Nina Carr says he plans to invest $1,000 of his new gains, possibly in Roblox – an online gaming hub, which filed for an initial public offering in November.
“I have to train him to let him know you can’t just buy anything — you have to read the charts,” Nina said. “I’m going to let him have his win.”
Jaydyn is putting the remaining $2,200 into his savings account.
