UPDATE: 17-year-old claims to have made millions playing the stock market

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Updated 12/15/14 at 2:54 p.m.

(CNBC) — The story about a high school student making outrageous amounts of money playing stocks has apparently been over-exaggerated.

17-year-old, Mohammed Islam says that he does not know where the reported number came from, but claims that it is inaccurate.

Islam says the actual number is still believed to be in the millions, but he declined to say what the true exact number is.

“The attention is not what we expected – we never wanted the hype. This was about friends trying to make something exciting together, ” Mr. Islam said in an exclusive CNBC interview.

Islam said, “We expected a regular article about what we hope to do [in our career.] The way we were portrayed is not who we are,” he added.

 

NEW YORK CITY, New York (PIX11) – Most high school students save up money by working at a store or fast food restaurant.

However, one 17-year-old from New York has made a cool $72 million on Wall Street, according to PIX11.

New York Magazine reports that during his lunch breaks Mohammed Islam would play the stock market.

First, the Manhattan teen started trading penny stocks.

Eventually, he made his millions with crude oil and gold.

Mohammed says he wants to buy an apartment in Manhattan and a BMW, but his parents say not so fast.

They won’t let him do all that until he turns 18 and get his driver’s license.

The teen also wants to start a hedge fund after he graduates high school, and then make at least $1 billion by the time he’s a college graduate.

Click here to read more.

 

Latest News

More News

National News

More National

Washington D.C.

More Washington DC

Your Local Election HQ

More Your Local Election HQ

Don't Miss

Latest News

More News

Popular

KFOR Podcasts

More Podcasts

Follow @KFOR on Twitter