20-Year-Old Cashes in on GameStop Stock To Buy Nintendo Switches for Children’s Hospital
In 2020, GameStop stock was trading for less than $5 a share. At the beginning of 2021, the stock was up to $17, but that was just the beginning. On a Reddit forum called WallStreetBets, Reddit users came together to beat Wall Street at it’s own game. Instead of the stock tanking as expected, they sent trades to the moon, meaning price per share skyrocketed.
Hunter Kahn is a 20-year-old college student who is part of the WallStreetBets forum on Reddit, and he participated in the plot to raise the price of GameStop stock. He also ended up with a huge payday; however, what’s most notable about Kahn is what he did with the money.
Instead of pocketing the money for himself, he spent a good chunk of it on gifts for kids at Children’s Minnesota Hospital. He donated six Nintendo Switches as well as games to go with them. In total, the donation was worth about $2000.
In an Instagram post, Kahn explained, “I think it is important that myself and others pay forward our good fortune.”
View this post on Instagram
Kahn also shared about his donation in the WallStreetBets forum. Many people have commended him for his generosity. One Reddit user wrote, “Fellow Minnesotan here with a kid being treated at Children’s. You did good, man, thank you!”
Some other Reddit users shared that they are also planning on donating some of the money they made from their GameStop stock. For example, one comment reads, “Plan to donate some of the proceeds to a scholarship fund for students of color in MN!”
I am proud to do my part in paying forward our good fortune with a donation of 6 Nintendo Switches and games to go with them to the Children’s Minnesota Hospital. Cant Stop. Won’t Stop. GameStop. (Still long 50 shares I WILL NOT SELL) from r/wallstreetbets
Watch the video below to hear Kahn explain why he made such a generous donation with his stock earnings.
Jennifer Soderholm is the president of Children’s Minnesota Foundation. In a statement, she told CNN, “We’re so grateful for this generous donation that will help bring joy to kids at our hospitals, especially during these challenging times. It’s inspiring to see young people in our community choosing to give back and pay it forward.”
What would you do if you suddenly earned extra money in the stock market? What’s your favorite charity to donate to?
