TORONTO, CANADA – Media OutReach Newswire – March 19, 2024 – Moomoo, the world’s leading investment and trading platform, recently concluded its highly anticipated Paper Trading Competition – New Year 2024 session, demonstrating an increase in participant engagement and increased interest in investing in the technology sector. With an impressive participation of 2,140 participants, the competition demonstrated a notable preference for technology stocks among investors.
Moomoo launched its Paper Trade feature to provide experiential trading opportunities for users, allowing them to practice trading without risking real money and improve their trading skills and strategies. During the month-long competition period, from January 19 to February 18, 2024, participants received $100,000 in virtual capital to trade U.S. stocks, with the aim of refining their strategies and maximizing returns in a risk-free environment. The winner made a
Rate of return (ROR) of 50.27%, while second and third places achieved RORs of 43.67% and 31.91% respectively. On average, each competitor traded 10.8 times during the one-month competition period, with an investment amount of $32,500.
The three most traded stocks are Tesla (36.4%), NVIDIA (21.6%), and Microsoft (13.0%), which collectively dominated trading activity, reflecting active investor participation and emphasis on the technology sector.
This round of competition rewarded a total of 174 candidates:
|
Achievements based on MMR |
# of winners |
Rewarded Cash Credits |
|
20% + |
19 |
$100 |
|
10-20% |
29 |
$20 |
|
5-10% |
44 |
$10 |
|
2-5% |
82 |
$5 |
Moomoo invites traders of all levels to participate in its upcoming paper trading competition, scheduled for March 15 to April 14. Seize the opportunity to improve your business journey, embrace innovation and showcase your expertise in the ever-changing world of finance.
Hashtag: #Moomoo
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