This fifth-grader is cashing out thanks to his mom! To celebrate Kwanzaa back in 2019, Nina Carr gifted her son, Jaydyn, ten shares of GameStop stock, according to Black Enterprise. The gift paid off because, last week, shares of the video game retailer increased over 1500 percent, allowing the 10-year-old to cash in over $3,000 in profits.
Last week the popular Reddit forum, WallStreetBets, stirred up a frenzy that led to investors hitting millions in minutes!
Black Enterprise reports a community of traders led a buying strategy that caused GameStop’s price to soar with stock prices going from approximately $18 per share at the start of the year to a 52-week high of $483 on Thursday.
“My phone was going off because I have GameStop on my watch list,” Nina tells 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?’”
For Jaydyn, he didn’t even have to think twice.
“I’m going to save $2,200 of it and the rest… I’m going to invest in more companies,” said Jaydyn in an interview with Inside Edition.