Robin Hood, Robin Hood, riding through the hospital. Robin Hood, Robin Hood, with his Nintendo Switches band. Feared by hedge fund investors, loved by sick children, Robin Hooood, Robin Hooood, Robin Hooooood!
It may not be the most traditional of Robin Hood’s gestures, but it’s certainly something you wouldn’t see real Wall Street investors doing. In a lovely twist on the GameStop story that is taking the internet by storm, Reddit user Lunar033 is “paying off” the good fortune of r / wallstreetbets, the subreddit that started it all, donating six Nintendo switches, games and kids accessories Minnesota Hospital.
For those of you who somehow missed the biggest story of the past week, GameStop’s shares were targeted by an investor subreddit after they found out that billionaire hedge fund managers were trying to “short sell” GameStop shares to profit from the bankrupt company. The subreddit, r / wallstreetbets, decided to try to make these billionaires lose money by injecting their savings into GameStop – and they did. As of today, subreddit investors are still “holding on” – refusing to sell – as a matter of principle, although they may lose some of them million dollars.
This generous donation is far from the first time that GameStop’s windfall has benefited the members of the wallstreetbets and they, in turn, have passed on their benefits to others. Another investor, wishing to remain anonymous, donated ten Nintendo Switches to a children’s hospital in Texas, and other investors were able to pay medical debts and help their families.
The subreddit is calling on its fellow investors to “stay strong” with messages from “💎🙌” to represent their cause – to screw with billionaires and help those in need. “We are not Wall Street,” said Lazy_Dragonfruit_727 in the comments. “We know what it’s like to suffer and how to pay back. That’s the difference between us and them.”
Hopefully, the hospital will be able to use the Switches – we’ve covered Starlight consoles in the past, which are special versions of the Switch considered “safe for the hospital”. In any case, it is still a generous use of profits that will undoubtedly benefit children in the hospital.
Have you ever seen any act of altruism or philanthropy as a result of the surge in GameStop’s actions? Let us know below!