Reddit’s WallStreetBets has adopted 3,500 gorillas and counting after driving up GameStop stocks and making a fortune. The Reddit users have spent over $325,000 on the adoptions so far through the Dian Fossey Gorilla Fund.
Many WallStreetBets users refer to themselves as “apes” and have coined the catchphrase “apes together strong.” The trend began after one user posted his adoption certificate on the forum which then inspired a stream of copycats.
🚨WE HAVE NEWS 🚨 It’s safe to say that the #investor community on @reddit is not traditionally who we think of as our supporter base. But they definitely surprised and overwhelmed us over the weekend. A THREAD. @CNN @CNBC @business @WSJ pic.twitter.com/JRB1Gj1Mub
— Dian Fossey Gorilla Fund (@SavingGorillas) March 15, 2021
The charity’s president Dr Tara Stoinski paid tribute to the community while speaking to the BBC.
She told BBC News: “They’ve truly made a difference for our world and shown what can be accomplished when people come together. When we save gorillas and we save forests, we save our world.”
The Redditors rallied around GameStop after the bricks and mortar game shop’s shares came under pressure from shorting by hedge funds.
Reddit users spotted that GameStop, a company which holds a lot of sentimental value to man, was being heavily shorted and retaliated by buying stocks and driving up the price. This forced the short sellers to buy back shares at a higher price.
Keep reading at Evening Standard.