Wealthy hedge fund managers were crowing with anger this week after millions of small-time investors sent the stock price of GameStop skyrocketing, according to The New York Times.

Thanks to the efforts of those small-time investors, 10-year-old Jaydyn Carr made thousands this week, according to The San Antonio Express-News.

As a gift for Kwanzaa in 2019, Nina Carr bought her son 10 GameStop shares for $6 each, making him a shareholder on Dec. 30, 2019, at the tender age of eight. She created a fun, custom-made certificate that she framed and wrapped for the holiday. 

Little did she know that the stock price for the troubled company would shoot up to $148 on Tuesday and then even further to $372 on Wednesday morning, according to MarketWatch.

At that moment, Nina said her phone began to blow up. 

“My phone was going off because I have GameStop on my watch list. I was trying to explain to him that this was unusual. I asked him, ‘Do you want to stay or sell?’" Nina told The San Antonio Express-News.

He decided to sell, and the two managed to bring in more than $3,000 after Nina spent just $60 initially. 

Nina said she and Jaydyn put about $2,200 into a saving account for the fifth-grader and plan to invest the other $1,000 in more stocks. 

Jaydyn wants to invest in Roblox, a digital gaming site that filed paperwork to go public in November, according to MarketWatch. 

There has been significant controversy around the rise in GameStop's stock price since thousands of Reddit users sought to target greedy hedge funds that bet against a number of failing companies like GameStop, AMC, Nokia, and others. 

Financial apps like Robinhood faced backlash for stepping in to stop people from buying more stock in the companies, effectively saving the hedge funds that lost billions by gambling on the idea that the companies would fail. 


Multiple class-action lawsuits were filed on Thursday against these financial apps, and lawmakers from both sides of the aisle called out the unfair actions taken to protect the billion-dollar hedge funds and damage the efforts of everyday investors like Jaydyn, according to CNN.

But, thankfully, Jaydyn and Nina were smart enough to get out at the peak of the stock price before the financial apps' actions intentionally caused the stock price in companies like GameStop to plummet. 

The mom said she wanted to teach her son about investing because she was learning about it. Nina added that she was teaching him about the Kwanzaa-based idea around cooperative economics called Ujamaa.

"Any time I learn something, I show him as well. I wanted to pass on the knowledge I have now because I learned it late in life. I want to give him a step up," Nina said. 

She added that she was angry she didn't invest more in it but she was glad they made so much on her small investment. 

"I have to train him to let him know you can't just buy anything, you have to read the charts. I was not into video games, that was not my scene. But I'm going to let him have his win," she told San Antonio Express-News.

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