SAN ANTONIO (KTSA News) – Jaydyn Carr’s mother bought him 10 shares of GameStop stock in 2019 as a Kwanzaa gift. She told the
San Antonio Express News she paid $6 for each share and thought it would be a good way to teach him about Ujamaa, a principle of Kwanzaa that teaches cooperative economics. That was in December of 2019.
Jaydyn is 10-years old now. When Reddit traders waged war against top hedge funds Wednesday and GameStop shares went from single to triple digits, Nina Carr asked her son if he wanted to sell. The 5th grader said yes and he cashed in on nearly $3,200.
Nina told reporter Madalyn Mendoza that $2,200 will go into Jaydyn’s savings account and the rest will be used to invest in more stock.
Both appeared on Fox Business with Charles Payne Friday afternoon. Nina explained that it’s important to give her son financial knowledge because his father passed away seven years ago.
“My goal was to teach him financial literacy because I was at that point where anything could happen to me and I wanted him to be at the point to where he would have that knowledge passed on because he is my legacy,”Nina told Payne on Fox Business. “I definitely wanted to instill financial literacy and financial responsibility in him and it’s paying off.”