In a remarkable turn of events, a ten-year-old boy has achieved significant financial success through his GameStop stock investment, showcasing a unique story amidst the recent stock market frenzy.
Jayden Brooks, a fifth grader, received ten shares of GameStop as a Kwanzaa gift from his mother, Angela, back in December 2019. Each share was purchased at $6.19, as Angela wanted to introduce her son to the world of investing, especially since GameStop was his favorite place to buy video games. This week, Jayden’s initial $60 investment skyrocketed to an impressive $3,200.
Angela expressed her disbelief, saying, “Is this really happening right now?” when she first witnessed the stock surge. She rushed to Jayden’s room to discuss whether he wanted to sell or hold onto the stock. “She mentioned that stocks don’t usually go up like this, so if I wanted to sell, it was a good time,” Jayden recalled. Ultimately, the decision was left to him. “It wouldn’t be fair for me to make the decision on his behalf,” Angela explained, emphasizing the importance of learning from financial experiences.
Jayden opted to sell, and now he plans to reinvest part of his earnings while also saving for the future. Angela, influenced by her personal experiences, is dedicated to equipping Jayden with financial knowledge. “He’s my legacy,” she said, reflecting on her late husband’s passing in 2014 and her desire to prepare Jayden for the future.
The purchase of the stock was also aligned with the Kwanzaa principle of Ujamaa, which means “cooperative economics.” Angela’s goal was to instill the value of money management in her son. “I wanted him to understand the importance of sharing wealth and building his own,” she noted.
Jayden, now inspired, is looking to expand his investment portfolio. “I am now looking for companies that pay dividends,” he shared, as he embarks on his investment journey.
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Summary: A ten-year-old named Jayden Brooks made headlines after turning a $60 investment in GameStop into $3,200, thanks to a gift from his mother. This experience not only provided a substantial return but also served as a valuable lesson in financial literacy for the young investor. His mother, Angela, aimed to teach him about cooperative economics and responsible money management, paving the way for his future endeavors in investing.
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