This 16-year-old made $43,000 on Tesla, Netflix stock - FAITH ADAMA'S BLOG

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Wednesday, 27 July 2016

This 16-year-old made $43,000 on Tesla, Netflix stock




Sudarshan Sridharan may not be old enough to drive, but he's already winning big on investing. The 16-year-old from North Carolina has made more than $43,000 betting on Tesla and other stocks in an account set up by his parents.

Unlike most 16-year-olds, Sridharan manages about a quarter of a million dollars of his parents' retirement money. It might seem like an extremely risky retirement strategy and hardly anyone would advise giving a teenager that much financial control, but Sridharan's parents leaned on some early success.
The Charlotte, North Carolina high school student's stock picks have scored more than $43,000 in gains since mid-2013. Sridharan's bet on Tesla (TSLA) alone turned into a $17,000 gain, according to financial documents shared by the family. That's on top of $14,600 in winnings off Google (GOOGL, Tech30) stock and $5,600 on Netflix (NFLX, Tech30). All the trades were conducted in an investment account in his parents' name.