It’s the gorillas.
This is not the case with monkeys. Reddit members – who have gained national attention for their role in increasing the January trade frenzy GameStop (GME), I HAVE C (I HAVE C) and other meme stocks – gathered over the weekend to use their winnings to symbolically “adopt” gorillas through donations to the Dian Fossey Gorilla Fund.
Why gorillas? It’s a bit of an inside joke: WallStreetBets members refer to themselves and others on the page as “monkeys” as part of the group’s internal ingot.
It all started on Saturday, when a member of WallStreetBets
adopted a gorilla child named Urungano from the organization on behalf of GameStop. Since then, Dian Fossey has received thousands of new adoptions and more than $ 333,000 in donations, compared to about 20 adoptions in a typical weekend, according to a spokesman.
“We used unrealized GME gains to adopt a gorilla,” a WallStreetBets poster said on the site.
“Monkeys saving monkeys,” said another.
WallStreetBets investors sent GameStop shares up more than 1,500% at some point earlier this year, raising hedge funds that shortened the stock and sparked a conversation about individual retail investors’ access to Wall Street equal to that of institutional investors. big.
A WallStreetBets poster said Monday that increased donations to help save gorillas indicated the benefits of making stock trading more accessible to individuals. Some members of the group have also been talking in recent days about donating some of their “trades” (or earnings) from trading GameStop shares to workers in game retailer stores.
“Reddit monkeys will use (earnings) to donate to good causes, to pay medical bills, to help those in need in their communities,” the user said. “I can’t wait for the wealth to be returned to the little guy and for everyone to benefit from it.”
GameStop shares fell rapidly after its peak around $ 350 during the January trading frenzy. But in recent weeks, the stock has started to rise again and traded around $ 200 a month, up more than 66% since the beginning of this month. Many members of WallStreetBets say they are still holding on to shares, hoping the gains will continue.
Dian Fossey Fund
said in a tweet thread the fact that gorillas are, in fact, an “excellent investment”, adding that the funds will be used to track, monitor and study wild gorillas and their habitat. The fund says it is the largest and longest gorilla conservation organization in the world.
“Gorillas live in the Congo Basin, the world’s second largest rainforest and a natural defense against #climatechange,” the group said. “When we save gorillas, we save the planet. How’s that for #ROI?”
The organization’s CEO, Tara Stoinski, also posted a video on WallStreetBets, thanking the Redeemers who helped fund the donations.
“Hello WallStreetBets … I just became aware that you adopted gorillas through our website,” Stoinski said in the video. “I just wanted to thank you so much for this incredible support.”
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