MINNEAPOLIS (NEXSTAR) – A college student who cashed in on the run-up of GameStop’s stock price said he shared his good fortune with a children’s hospital in Minneapolis, Minnesota over the weekend.
“I am proud to announce my humble donation of 6 Nintendo Switches and games to go with them to the Children’s Minnesota Hospital,” Hunter Kahn wrote on Instagram, posting a photo of himself with the consoles (bought from GameStop of course). “Can’t stop. Won’t stop.”
Kahn also posted news of his donation on Reddit, where a form called “Wall Street Bets” is credited with driving the GameStop buying frenzy in an effort to undermine the bets of large hedges determined to short the stock. His post has already received well over 175K upvotes or likes.
“It was a better feeling than waking up in the morning and seeing that [GameStop’s stock price] was on the moon,” Kahn told WCCO. “I love video games. I know it would be terrible being a kid in a hospital with no joy helping them through.”
In a reply on Facebook, Children’s Minnesota wrote, “Thank you to Hunter Kahn for donating six Nintendo Switches as well as a heap of games to Children’s Minnesota — we are so grateful!”
Kahn told the New York Post he sold off about $30,000 worth of the stock, but plans to hang onto the first 50 shares he bought.
“As a beneficiary of the recent events on Wall Street I think it is important that myself and others pay forward our good fortune,” Kahn wrote on Instagram. “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.”
After flirting with $470 per share toward the end of January, GameStop’s stock closed Tuesday at $90 a share.