Not sure what I would have done with $3,200 at 10 years old... I mean I was pretty happy if I ever got $10 for an occasional allowance and I was lucky if that happened. LOL
From The Washington Post:
The GameStop stock surge has benefited small-scale investors, many of them surprised at their unlikely windfalls. Perhaps none so much as a 10-year-old boy from San Antonio.
The fifth-grader was gifted 10 GameStop shares, each at $6.19, as a Kwanzaa present from his mother in December 2019. She bought the stock simply because her son liked to buy video games at the store and she wanted to teach him a little about the stock market.
In a matter of minutes this week, Jaydyn Carr became an unexpected beneficiary of the market mayhem, as his $60 stake in the video game retailer grew to $3,200.
“Is this really happening right now?” Jaydyn’s mother, Nina Carr, remembers asking herself. “I couldn’t believe it was true.”
Carr, 31, was working in her home office on Wednesday when a slew of news alerts about GameStop’s Reddit-spurred surge started appearing on her phone. Her jaw dropped.
Once she absorbed the news, she sprinted to her son’s bedroom.
“I was so excited for him,” she said. In simple terms, she described to Jaydyn what happened to his GameStop shares and why they suddenly skyrocketed.
“She was saying that stocks hardly ever go up this way, so if I wanted to sell it, we should sell it now,” Jaydyn said.
Ultimately, the choice was his.
“It wouldn’t be fair for me to make the decision on his behalf,” Carr explained. Besides, she added, “if he lost the money, it would have been a lesson learned.”
So, she asked her only child the burning question: “Do you want to sell or stay?”
To her relief, Jaydyn decided to sell.
“I was so excited. I thought it wasn’t even reality,” Jaydyn said.
Good job, MOM and good for him! She's doing a good job of raising him and teaching him the right way to do it! Yeah... I need to jump on this sort thing and learn how to day trade myself! LOL