ITHACA, N.Y. (WSYR-TV) — A Cornell University sophomore has donated some of his GameStop profits to a Minnesota children’s hospital.
20-year old Hunter Kahn was one of the many amateur day traders who teamed up to turn the failing video-game seller GameStop into an overnight stock market darling.
Kahn is part of the millions of other renegade investors who communicate on Reddit’s WallStreetBets to make money but also disrupt the traditional Wall Street investor community.
This online forum came together last week to prove the professional stock prognosticators wrong by buying up GameStop stock and selling it when they could cash in at a high price.
Kahn tells NewsChannel 9 he made a profit of $30,000.
“That’s what I actually cashed out with some call option plays that I had. I’m still holding my original 50 shares through this whole wild ride. I still think that we haven’t seen the end of this.”
He used about $2,000 from his profits to buy several Nintendo Switch consoles and games for Children’s Minnesota, a hospital in his home state.
“I feel like I almost had to donate, like yeah, I just had to. That was what the movement was about,” he says.
Kahn showed up at the hospital unannounced with the video-game package the other day.
“They put switches on their Christmas list and they ended up not getting very many until like I pulled through with them so they were extremely thankful and it was just great to hear that kids are using them already,” he tells NewsChannel 9.
He says since the donation he’s gotten messages from parents with kids at Children’s Minnesota.
Kahn says, “They’re telling me that I have no idea the kind of impact it’s making, so hearing stuff like that is absolutely incredible. It’s better than any monetary gain, that’s for sure.”
The Cornell sophomore says he’s heard from others on WallStreetBets who’ve also donated some of their profits.
“They’re like, check it out, I just bought lunch for a bunch of employees at Gillette, Children’s in St Paul, Minnesota, and like they told me that I inspired them to do that,” he tells NewsChannel 9.
Kahn says he started investing when he turned 18 as a high school senior and adds he’s won some and lost some.
“Well, you know to quote, the new Weezer album, ‘I wanna be rich, but I’d feel guilty’, so I’d say as I grow I want to make sure I’m giving back.”
Kahn is a sophomore Mechanical Engineering major at Cornell University.
Here’s a statement from Children’s Minnesota:
“We’re grateful for donations that help bring joy to kids at our hospitals, especially during these challenging times. The generosity of our community makes a difference to kids whose worlds have been turned upside down because of a health crisis.”