Kwanzaa gift of GameStop shares nets 10-year-old investor big payday

SAN ANTONIO — A practical gift has resulted in a hefty life lesson totaling $3,200 for one San Antonio fifth grader.

Jaydyn Carr became a GameStop shareholder on Dec. 30, 2019, after his mother gifted him 10 shares of the company for Kwanzaa two years ago. The gesture was both a nod to his love of video games and an opportunity to learn at arm’s length about investing in the stock market.

>> Read more trending news

Nina Carr explained to The New York Times that she wanted the gift, purchased at $6.19-per-share, to reflect one of the seven principles of Kwanzaa known as Ujamaa, or cooperative economics.

As Reddit users blindsided Wall Street this past week and sent the struggling gaming company’s stock price surging from single to triple digits, Jaydyn Carr, meanwhile, watched the return on his shares skyrocket 5,000%, MySanAntonio.com reported.

With a little parental guidance, Jaydyn Carr sold his shares Wednesday morning for nearly $3,200.

“She was saying that stocks hardly ever go up this way, so if I wanted to sell it, we should sell it now,” the fifth grader told The Washington Post.

According to MySanAntonio.com, $2,200 of Jaydyn Carr’s windfall will go into his savings account, leaving the remaining $1,000 for future investments.

“I wanted to pass on the knowledge I have now because I learned it late in life. I want to give him a step up,” Nina Carr told the news outlet. “I have to train him to let him know you can’t just buy anything. You have to read the charts.”

Cox Media Group