- GameStop stock pays off for 10 year-old boy
- Updates on highs and lows of GameStop stock surges
A 10-year-old boy in San Antonio, Texas, came into a fairly large sum of money considering his age. Jaydyn Carr received $60 worth of GameStop shares from his mother for Kwanzaa to support one of Kwanzaa’s seven principles, Ujamaa which focuses on cooperative economics — Ujamaa is a Swhaili word that means ‘extended family’.
As GameStop prices soared last week, Jaydyn decided to sell his shares and received just over $3,200 — talk about a jackpot.
His mother, Nina says, “I have GameStop on my watch list, and my phone was going off which was unusual. I asked him if he wanted to hold on, or sell.”
The 10-year old is now researching his next stock opportunities, and the next stock purchase on his rader? Unsurprisingly, the young gamer has his eyes set on Microsoft and Roblox.
GameStop surge continues to die-down
GameStop shares took a 60% nosedive on Tuesday, down from a massive 1600% climb after members of a reddit-board ‘led’ a huge campaign to purchase GameStop stock, and work against the hedge fund managers betting against it.
Shares fell from $135 to $90, down from a high of $483 that it hit last Thursday. Before the GameStop surges, GameStop shares typically went for about $17. The amount of shorted GameStop shares have fell by over half in the past days.
Other stocks supported by the online-charge fell, including AMC Entertainment by 41%, headphone company Koss by 43%, and Blackberry by 21%.
But is the ride over? According to Mark Cuban, maybe not. In an ‘AMA’ (ask me anything) on reddit, when asked about the Wall Street disruption, Cuban says, “Patience. Disruption is never easy or straight line. Is what you believe in still true. If it is, stay with it. If it’s not, figure out what changed, learn from it and reload for the next asset . As always DO THE WORK. Assets including stocks move for a lot of different reasons. Trading stocks isnt easy. Trading Crypto, NFT, whatever, isnt easy. None of this shit is easy. You know what it is ? Its time consuming and brain consuming. And when you learn share. If you want to beat old school Wall Street you have to share that knowledge and find the power in numbers.”