Amid the Wall Street drama surrounding GameStop and Robinhood, some investors taking part in the GameStop short sale are using their proceeds to do good deeds for others.
One investor, who wished to remain anonymous, delivered 10 Nintendo switches purchased from GameStop locations around the Dallas-Fort Worth area to Medical City Children's Hospital Thursday.
The investor said his efforts were made possible by GME gains.
Wall Street has been rattled this week by an organized campaign by small investors to take on large hedge funds by driving up shares of Grapevine-based GameStop and other struggling retailers.
The campaign started on Reddit and other discussion boards as small investors encouraged each other to buy GameStop stock, forcing the bigger players like hedge funds to cover their bets by buying the stock, increasing the price even further.
The anonymous investor who donated the Nintendo Switches said they made "a good amount through r/WallStreetBets on this hilarious GME trade" and felt inspired to give back "in a way that was equally hilarious."
The investor said their hope is to convince others from the Reddit forum r/WallStreetBets to give back in a similar way and turn the GameStop short sale into a force for good.
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January 30, 2021 at 11:44AM
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North Texas Investor Uses GameStop Gains to Help Sick Children - NBC 5 Dallas-Fort Worth
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