Start small, win big 10-year-old Jaydyn Carr made a 5000% ROI when he sold his GameStop stock - a gift his mother got him for $60 in December 2019 - when the company's value surged in February, earning him $3200.
Once the preserve of the powerful few, the world of stocks and shares is being upended by a generational mindset shift and the democratising forces of digital.
Teens have grown up in an always-on connected world. They’ve developed strategy chops through gaming, built knowledge and skills through social community, and have a fearless attitude towards failure.
The hustlegeneration is now applying that entrepreneurial mindset to their financial wellness. Retail channels like the resale market, now said to be worth $2bn in North America alone, as well as investing apps like Robinhood, are helping facilitate those who want to dabble in the field, but still can’t financially play ball with the Wall Street big dogs. The GameStop debacle, led by Reddit users, showed that it would be naive to underestimate the outliers.
Having grown UK monthly active users by 150% in 2020, Depop represents the Teen Trader mentality in action, by allowing its young users to create a new revenue stream through selling pre-owned clothing online.
It’s becoming clear that students will soon become masters when it comes to playing in more traditional finance spaces as well.
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