GameStop Investor Donates Part of Windfall to Children's Hospital
Hunter Kahn could have bought the Corvette he's always wanted with the Wall Street windfall he and a group of amateur day traders earned by joining forces to turn the failing video-game seller GameStop into an overnight stock market darling.
But the 20-year-old Cornell University mechanical engineering student from Minnesota said he saw the bonanza as a chance to do something good. He said he cashed out $30,000 of the GameStop stock he bought at $30 to $80 a share last month and used part of the proceeds to buy a bunch of Nintendo Switch Lite handheld consoles and video games from GameStop stores, of course, and donated them to patients at Children's Minnesota hospital.
He said he had to go to several GameStop stores to buy nine Nintendo Switches and nine video games to give to Children's Minnesota hospital, of which he showed up at unannounced with the video-game haul.
Officials at Children's Minnesota told ABC News that the surprise contribution Kahn made to their donation box this week has already put smiles on the faces of sick children being treated at the Minneapolis hospital.
"We're grateful for donations that help bring joy to kids at our hospitals, especially during these challenging times," hospital officials said in a statement to ABC News on Wednesday. "The generosity of our community makes a difference to kids whose worlds have been turned upside down because of a health crisis."
Kahn said he began investing in the stock market as a high school senior with the goal of saving up $12,000 "to buy a '90s Corvette to impress my crush." He said that despite the success he and his ragtag day-trading cohorts have experienced, he has no plans to change his major to finance.