TORONTO, CANADA 19 March 2024 – World’s leading investment and trading platform moomoo has recently concluded its highly anticipated Paper Trading Competition – 2024 New Year Session, showcasing a surge in participant engagement and heightened interest in technology sector investments. With an impressive turnout of 2,140 contestants, the competition demonstrated a notable preference for technology stocks among investors.Moomoo has launched its Paper Trade Function to offer experiential trading opportunities to users, allowing them to practice trading without risking real money and enhancing their trading skills and strategies. During the one-month competition period from 19th January to 18th February 2024, participants were equipped with USD 100,000 in virtual capital to trade U.S. stocks, aiming to refine their strategies and maximize returns in a risk-free environment. The winner achieved a 50.27% rate-of-return (ROR), while second and third places reached RORs of 43.67% and 31.91% respectively. On average, each contestant traded 10.8 times over the one-month competition period, with an investment amount of USD 32,500.
The top 3 most traded stocks are Tesla (36.4%), NVIDIA (21.6%) and Microsoft (13.0%), which collectively dominated trading activity, reflecting investors’ active participation and keen focus on the technology sector.
This round of competition has awarded a total of 174 contestants:
| Achievements based on ROR | # of Winners | Cash Credits Rewarded |
| 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 from 15 March to 14 April. Seize the chance to elevate your trading journey, embrace innovation, and showcase your expertise in the ever-evolving world of finance.
