After racking up a 5,000% return on a few shares of GameStop his mother bought for him in 2019 as a lesson in investing, 10-year-old Jaydyn Carr has been featured in the New York Times and the Washington Post and appeared on Fox Business show Making Money.
Jaydyn's mom, Nina Carr, gave him 10 GameStop shares as a Kwanzaa gift since he liked video games and the small investment could provide a hands-on lesson in how the stock market works. At the time, the shares were valued at around $60.
However, after last week's frenzied buying of GameStop shares by individual investors, the value of the youngster's shares ballooned to $3,200. Suddenly, national news outlets had a (cute) human face to put on a story that had so far been about been about heady stuff like hedge funds, short selling and Wall Street intrigue.
After the steep run-up, Jaydyn ultimately opted to sell his stock and take the profits. After a little motherly advice, of course.
“She was saying that stocks hardly ever go up this way, so if I wanted to sell it, we should sell it now,” the 5th grader told the Washington Post.
While Nina Carr told the Post that she helped put context around the price spike, she ultimately left the decision up to her son.
“It wouldn’t be fair for me to make the decision on his behalf,” she added. “If he lost the money, it would have been a lesson learned.”
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