10-year-old Texas boy cashes in on GameStop stocks
SAN ANTONIO (AP) — A 10-year-old San Antonio boy made a killing by selling GameStop stock he was gifted more than a year ago.
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.
The San Antonio Express-News reports that 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.
The mother-son investing duo says $2,200 of the funds would go to Jaydyn’s savings account and they’ll put the other $1,000 toward future investing.