'Is this really happening right now?': A 10-year-old cashes in his GameStop shares

[mahatmakanejeeves]

Inspired Life

‘Is this really happening right now?’: A 10-year-old cashes in his GameStop shares

By Sydney Page
Jan. 30, 2021 at 6:00 a.m. EST

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.”

[What you need to know about GameStop’s stock price chaos]

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.

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[unblock]

1. Sadly, this is the sort of lesson that costs a kid thousands in later life

Great for the kid now, but "stocks can produce quick jackpots" is a lesson that can lead to very poor investment decisions later on....

[Ferrets are Cool]

3. The stock market is just gambling.

We give people our money so they can gamble with it.

[flamin lib]

5. A trader can make the gamble a lot safer with the right experience and education.

Losing a butt load of cash is the first lesson. After that foolishness following the herd mentality without understanding the basic fundamentals of a stock sinks in. Then the much longer lesson of finding out what the fundamentals are and what they mean begins.

Even at that there is an element of risk in any trade as companies are subject to the same vagaries of life as we all are.

[Ferrets are Cool]

2. Is anyone able to sell it at this inflated price?

Or is it just implied wealth? I honestly do not know.

[flamin lib]

6. Well, yeah. Most people who follow the herd without having a clue about why the herd is going

head long for that cliff will, well, follow the herd.

[3Hotdogs]

4. No. It was reported a couple of days ago. If he sold then, he made the profit.

If he waited, not so much.