A 6,900-Won Stock Gifted by Mom, 5000% Profit 'Jackpot'... What Is Its Current Value?

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[Asia Economy Reporter Choi Eun-young] An American mother has become a hot topic after the 'GameStop' stocks she bought for her son as an economic education gift yielded over 5,000% profit.

According to The New York Times on the 31st, Nina Ka (31), a Black woman living in the United States, gave her son Jadin Ka (10) a special gift in December 2019 to celebrate 'Kwanzaa,' a cultural festival of African Americans.

Nina's son Jaidin
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After her husband, an army medic, died in 2014, Nina decided to teach her son financial literacy early. Knowing that Jadin loved video games and wanted to buy the 'Xbox' game at GameStop, she gave him a framed certificate of 10 shares of GameStop stock, telling him, "You own part of the game company you like."

Nina taught her young son how to read stock charts on the computer or phone and also taught him the importance of cooperative economics, the basic spirit of Kwanzaa, and how to trade stocks. At that time, GameStop stock was priced at $6.19 per share (about 6,900 KRW).

However, the GameStop stock price, which had been rising gradually, surged about 1,700% since December last year, reaching $351 per share. This happened as individual investors declared 'war' against hedge funds that undervalued the company and aggressively bought shares.

Nina recalled, "Suddenly, multiple stock alerts popped up on my phone. When I checked, the stock price had risen to $351. I bought it at $6, and I couldn't believe it."

She then called her son again to ask whether he wanted to keep or sell the stocks, explaining that such a price was rare. Jadin decided to sell, ultimately selling stocks bought for about $60 (60,000 KRW) at $3,200 (about 3.57 million KRW), earning over 5,000% profit.

Jadin plans to reinvest $1,000 of this into another multiplayer game company he likes and save the rest.

Nina said, "It's shocking and exciting. I realized that long-term investment is very important. I will continue to teach my son to save money, avoid impulsive purchases, and gradually learn the basics of the stock market."

She added, "I want to bridge the gap in financial education among African Americans who are vulnerable in this area. I hope more parents do this, and I hope my son learned lessons early that I did not know."

This content was produced with the assistance of AI translation services.