Forbes Media Chairman Steve Forbes shares his insights on the stock price surge of GameStop and other names this week.
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.
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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.
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$313.56
+116.12 (+58.81%)
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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 San Antonio Express-News reported.
Pedestrians pass a GameStop store on 14th Street at Union Square, Thursday, Jan. 28, 2021, in the Manhattan borough of New York. (AP Photo/John Minchillo)
“My phone was going off, because I have GameStop on my watch list,” Nina said of watching the share price surge. “I was trying to explain to him that this was unusual. I asked him ‘Do you want to stay or sell?’”
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The mother-son investing duo said $2,200 of the funds would go to Jaydyn’s savings account and that they’d put the other $1,000 toward future investing.
