Reddit user Lunar033 has taken the money he earned through investing in GameStop to donate six Nintendo switches to a children’s hospital.
As the GameStop stock market story continues to develop, one investor has used his earnings to donate six Nintendo switches, along with games and accessories, to Children’s Minnesota Hospital in Minneapolis, according to CBS News.
To quickly summarize, r/WallStreetBets is an online community where users discuss stocks and trading. Several days ago, members of this subreddit began purchasing GameStop stock in tremendous numbers in order to cause large hedge funds to lose money.
Once hedge funds such as Melvin Capital Management began losing billions of dollars, Robinhood–a financial services company through which people can trade stocks–began restricting trading on GameStop’s stocks, citing the stock’s recent “volatility.”
As a result, Robinhood has come under fire for appearing to side with large corporations rather than their working-class users simply because the former was losing money.
Also read: Reddit’s WallStreetBets Is Crowdfunding A Super Bowl Ad To Mess With Robinhood
While Reddit users have made bucks few of them are demonstrating that their goals were never to become rich, but rather to send a message to large hedge funds and short-sellers.
Hunter Kahn
According to Nintendo Life, 20-year-old, Hunter Kahn was able to take home $30,000 from the GameStop stock he had purchased for $30 to $80 per share. He has now joined the ranks of another anonymous investor who recently donated ten Switches to a children’s hospital in Texas. And other users who have used their newly acquired funds to help cover people’s medical debts.
“It was a better feeling than waking up in the morning and seeing that [GameStop’s stock price] was on the moon,” Kahn told the outlet. “I love video games. I know it would be terrible being a kid in a hospital with like no joy helping them through.”
“I wanted my donations to be GameStop purchases since this is how it all started, and there’s no one more deserving of Nintendo Switches than some kids going through a hard time,” Kahn told ABC News in a video interview.
Kahn also took to Instagram to announce what he did and said, “As a beneficiary of the recent events on Wall Street I think it is important that myself and others pay forward our good fortune. These events have highlighted a lot of corruption and with this transfer of power it is important that we don’t become men in suits ourselves.“
What are your thoughts?
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