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PALO ALTO, Calif., Sept. 8, 2021 /PRNewswire/ -- moomoo, the popular trading platform for proactive traders, has announced the launch of registration for its paper trading competition in partnership with Benzinga, the renowned financial news publication. The competition, which starts on September 20, 2021 will support trader education and promote the advocacy of Environmental, Social & Governance (ESG) focused economies.
"We are thrilled to announce the launch of our first-ever US paper trading competition, which will give moomoo users the opportunity to practice trading in a safe environment with simulated funds. Paper trading users will have access to our pro-grade tools, which combine the power of AI, industry-leading technical charting capabilities, real-time quotes and our rapidly expanding active trading community," said Leaf Li, Futu's Founder, CEO and Chairman of the Technology Committee CEO. "To give back to the community and elevate awareness of environmental and social good, users will be encouraged to invest in ESG-focused company stocks. We will also be awarding winners of the competition with ESG-related stocks, such as Nvidia."
Registration begins on September 7, 2021 and ends October 15, 2021. The competition starts on September 20, 2021 and ends six weeks later on October 29, 2021. At the start of the competition, moomoo will offer each participant the virtual buying power of $200,000, and they will each compete for the best profit and loss percentage (P/L %) over the course of the competition. The competition will offer top performers up to $5,000 in ESG-related company stock prizes.*
moomoo and Benzinga have a shared vision for this competition—to help promote financial inclusion, educate investors and inspire social good by showing investors that what is good for the environment can also be good for your wallet. The competition will help participants sharpen their trading skills and test-drive new investment strategies through a user-friendly paper trading platform, without risking real money. Benzinga will help guide investors during the competition by offering tips and tricks to help build a strategic portfolio, while moomoo will provide competitors with its smart stock trading platform, which offers investors free educational courses on stock trading within the "moo community."
"Benzinga's mission is to connect the world with news, data and education that makes the path to financial prosperity easier for everyone, every day," said Jason Raznick, Benzinga's Founder. "The moomoo/Benzinga paper trading competition is an incredible opportunity to provide this kind of invaluable, hands-on education to investors, and we're honored to partner with a premier trading app like moomoo."
Participants can sign up for the paper trading competition within the moomoo app. The total prize pool is worth up to $10,000*, and prizes include stocks from Nvidia (NVDA) and Patterson Companies, Inc. (PDCO), both of which have an AAA ESG rating by Morgan Stanley Capital International (MSCI) standards. Winners need to have at least $500 in their Futu brokerage accounts through the moomoo app to be eligible to redeem prizes.
The first-place winner will receive 24 NVDA stocks, valued at roughly $5,000. The second-place winner will be awarded 12 NVDA stocks. The third-place winner will receive four NVDA stocks. The fourth- through one hundredth-place winner will each receive one PDCO stock. Please see full rules and details at moomoo.
About Moomoo Inc.
Headquartered in Palo Alto, California, Moomoo Inc. is an indirect wholly-owned subsidiary of Futu Holdings Limited (Nasdaq: FUTU), with its mission to transform personal investing experience with an intuitive user interface, fully digitized trading platform in the US and globally. For more information about moomoo, please visit the company's official website, www.moomoo.com.
About Benzinga
Benzinga is a content ecosystem that makes information easier to consume. Their mission is to connect the world with news, data and education that makes the path to financial prosperity easier for everyone, every day. From breakouts to unusual volume, analyst ratings, futures and options, Benzinga is the leading full-service, one-stop shop for investors of all stripes and styles.
*Stock prices based on 09/01/2021
All amounts in U.S. dollars unless otherwise noted.
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