His mother, Nina Carr, told CNN that she bought Jaydyn 10 shares of the company’s share in 2019 as a Kwanzaa gift because she wanted to teach him about investing.
The fifth grade of San Antonio loves video games, so the stock was a natural choice.
“We were always there two years ago and just bought different video games,” she said. “I was like, ‘I can give him the shares through the GameStop and give him something tangible to hold on to, and that way he can appreciate it that way.’
She buys the shares for about $ 60 and prints out a share certificate, which she frames and wraps as a gift. He wanted an XBox One but said he liked the gift.
“It was really cool that I got shares in one of the companies I used most,” Jaydyn said.
He occasionally looked at the share price, but said his mother taught him to consider it a long-term investment.
Carr has been an active investor for about five years and has issued a warning to keep up with the share price.
Wednesday morning, her phone went crazy. She sees that the stock has reached $ 350 and is going up and down dramatically.
She ran to get her son, who was doing his virtual schoolwork in his room, and quickly explained what was going on. She asks him what he wants to do.
“I wanted to sell it there and then because I knew it would go down in seconds,” Jaydyn said.
They eventually sold the stock for about $ 320 a share, for a total of nearly $ 3,200, Carr said.
It was Jaydyn’s first share, but he said he was investigating his next purchases.
Carr said she teaches her son about investments, savings, credit card debt and other financial topics he will need to understand as he gets older.
“We are African-Americans. You do not see much of that in our community,” she said. “I wanted to take him a step further when it comes to learning these things because I learned them later in my life and wish I knew sooner.”
His father died in 2014, which made his mother determined to make sure Jaydyn was financially literate.
“He’s my legacy,” she said. “I have to make sure he is prepared for the future.”
Jaydyn puts $ 2000 into his savings account and plans to invest $ 1000.