Robin Hood, Robin Hood, riding through the hospital. Robin Hood, Robin Hood, with his band of Nintendo Switches. Feared by the hedge fund investors, loved by the sick children, Robin Hooood, Robin Hooood, Robin Hooooood!
It might not be the most traditional of Robin Hood gestures, but it’s certainly something you wouldn’t see actual Wall Street investors doing. In a lovely twist on the GameStop story that’s taking the internet by storm, Reddit user Lunar033 is “paying forward” the good fortune of r/wallstreetbets, the subreddit that started it all, by donating six Nintendo Switches, games, and accessories to Children’s Minnesota Hospital.
For those of you who somehow missed the biggest story last week, GameStop stock was targeted by an investing subreddit after they discovered that billionaire hedge fund managers were attempting to “short” GameStop stocks to make a profit off the failing company. The subreddit, r/wallstreetbets, decided to attempt to make these billionaires lose money by pumping their life savings into GameStop – and they succeeded. As of today, the subreddit investors are still “holding” – refusing to sell – as a matter of principle, even though it could lose some of them millions of dollars.
This generous donation is far from the first time that the GameStop windfall has benefitted the wallstreetbets members, and they in turn have passed their benefits to others. Another investor, wishing to remain anonymous, donated ten Nintendo Switches to a children’s hospital in Texas, and other investors have been able to pay off medical debts and help their families.
The subreddit is putting out calls for their fellow investors to “stay strong”, with messages of “💎🙌” to represent their cause – to screw over billionaires, and help the needy. “We’re not Wall Street,” says Lazy_Dragonfruit_727 in the comments. “We know what it’s like to suffer, and how to give back. That’s the difference between us and them.”
Hopefully, the hospital will be able to use the Switches – we’ve covered the Starlight consoles in the past, which are special versions of the Switch deemed “hospital-safe”. Either way, it’s still a generous use of the profits that will no doubt benefit the kids in hospital.
Have you seen any acts of altruism or philanthropy as a result of the GameStop stock skyrocketing? Let us know below!