Steve Forbes, chairman of Forbes Media, shares his insights this week about the rise in the share price of GameStop and other names.
SAN ANTONIO (AP) – A 10-year-old boy from San Antonio committed murder by selling GameStop shares to which he donated more than a year ago.
Jaydyn Carr’s mother, Nina, spent $ 60 in December 2019 for ten shares of the share in the video game chain she gave to Kwanzaa to reflect Ujamaa, one of the festival’s seven principles focused on collaborative economics.
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With GameStop’s share price soaring this week after a speculative frenzy fueled by a Reddit chat group, Jaydyn sold the shares Wednesday for just under $ 3,200, the San Antonio Express News reported report.
Pedestrians pass a GameStop store on 14th Street in Union Square, Thursday, January 28, 2021, in the New York City district of Manhattan. (AP Photo / John Minchillo)
“My phone went down because I had GameStop on my watchlist,” Nina said of the share price rise. ‘I tried to explain to him that it was unusual. I asked him ‘Do you want to stay or sell?’ ‘
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The mother-son investment duo said $ 2,200 of the funds would go to Jaydyn’s savings account, and that they would give the other $ 1,000 for future investment.