10-year-old boy has returns of 5,000% with GameStop shares
A boy from San Antonio, Texas, had a return of 5,000% with shares of the game retailer GameStop, after the recent speculative attack on the company’s papers.
Jaydyn Carr, 10, owned 10 shares of the company, bought for about $60 in 2019 – before the company entered the radar of investors responsible for this year’s rally. In late January, he sold the papers for $3,200.
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The story was revealed in a article published by The New York Times. According to Jaydyn’s mother, Nina Carr, the shares were a gift to the boy, bought with the discounts money he got from buying games. The idea was to teach him about investments.
The lessons were absorbed. “Long-term investment is important because that’s how I got that money,” Jaydyn told the newspaper.
The boy already knows what he will do with his profits. He told the NYT that he plans to save $2,200 and invest the remaining $1,000 in shares of Roblox, a multiplayer gaming platform.