The GameStop stock frenzy rose to a crescendo this week with smaller investors sticking it to hedge funders, and this, of course, has led to unexpected developments. Alexandra Ocasio-Cortez and Ted Cruz actually agreed on something. The chaos inspired Jon Stewart to finally join Twitter, and that’s a good thing. Also good? Our own Brian Grubb dreamcasted the inevitable movie coming our way, probably directed by Ben Affleck or something. There’s other good news, too, involving a 10-year-old boy who lives in San Antonio.
MySanAntonio reporter Maddy Skye tweeted out a link to the story about Jaydyn Carr, who received 10 GameStop shares for a Kwanzaa gift from his mother two years ago. The shares cost $6 apiece, and as of Wednesday, they were worth $3,200.
Stock talk is surrounding small investors this week amid the GameStop trading frenzy.
We found one of San Antonio's smallest, 10 y/o Jaydyn Carr who just cashed in the GameStop shares his mom gifted him for Kwanzaa 2 years ago. https://t.co/0TbrmbYLnK @mySA
— Maddy Skye (@MaddySkye) January 28, 2021
Jaydyn’s mom, Nina, described what happened earlier this week:
“My phone was going off, because I have GameStop on my watch list,” the mother said of watching prices skyrocket. “I was trying to explain to him that this was unusual, I asked him ‘Do you want to stay or sell?'”
While even adults are asking for stock-savvy friends to explain the situation to them, Jaydyn said he wasn’t at all confused by his mom’s urgency or what was going on.
Nina says that Jaydyn has a voracious appetite for learning, even about economics, and yes, he decided to sell those shares. He’s saving $2,200 in an account, and Jayden earmarked $1,000 to pick out other investments together. Oh, good news, you are sorely appreciated.
(Via MySanAntonio.com)