NEWS RELEASE
Media Contact:
Tuesday Manthei
December 21, 2020 763.233.6331
FOR IMMEDIATE RELEASE [email protected]
MCGT Choices Chapter Students Receive Awards
Sunfish Lake, MN – Students from MCGT Choices Chapter and school recently received recognition for their outstanding performance in the Fall Session of The Stock Market Game™ (SMG). Oliver S. took 2nd place, Isaac S. took 3rd place, Elsa B. took 4th place, and Tadashi A. took 5th place, all in the Elementary Division in Minnesota. They were advised by teacher Lorri Jennings.
The SMG is a national, interactive learning program for students in grades 4-12, managed locally by Minnesota nonprofit, BestPrep. Students work in teams to invest a virtual $100,000 over a 14-week period, competing with other students for the highest-valued portfolio.
Because SMG uses an online platform, students were able to continue their participation during distance and hybrid learning. Each SMG team has access to online daily portfolio updates on their current holdings, brokerage fees, and team rankings. Students monitor their portfolio throughout the session and determine when to buy, sell, or hold investments.
The Fall session was an especially interesting learning opportunity for students, who experienced investing and the stock market during a global health pandemic and an election year.
“The Stock Market Game is an excellent tool for real-world learning because students are actually engaging in the stock market in real time. Students see and understand the effect of the financial choices they make, allowing them to make connections to factors that impact the market. This is an invaluable skill they learn, and knowledge that will benefit them long-term,” said Stephanie Musgrove, Program Manager at BestPrep.
For the third year, thanks to support from Schwab Advisor Services and funding from Charles Schwab Foundation, SMG team fees were waived for MCGT Choices Chapter students.
One teacher from this Fall commented that “During distance learning, SMG was a great way for our students to connect with advice, friendly competition, and real-world skill development,” and another noted that “SMG is a highlight for my students. They enjoy learning through the SMG so much.”
Students and teachers celebrated remotely in a live, virtual Awards Ceremony on December 16 due to a variety of learning models and school closures. Jennings’ students and other top-ranking teams were recognized with a keynote message by Jay Robinson, Regional Vice President in Advisor Services for Charles Schwab. Students also participated in a Q & A session with Robinson where he shared his insights and experiences in investing and reminded students of the long-term value of their participation in SMG.
The SMG is run nationally by the Securities Industry and Financial Markets Association (SIFMA) Foundation, with the Minnesota chapter of the program managed by BestPrep, a local nonprofit. The program runs each school year with yearlong, fall, spring, and late spring sessions.
For more information about or to participate in The Stock Market Game, contact Stephanie Musgrove at 763.233.6328 or [email protected].
About BestPrep
BestPrep is a nonprofit organization dedicated to preparing students with business, career and financial literacy skills through hands-on experiences that inspire success in work and life through seven innovative programs. Since 1976, the organization has served more than 1.7 million Minnesota students and teachers. For more information, visit www.bestprep.org.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.
About Charles Schwab Foundation
Charles Schwab Foundation is a private, nonprofit organization funded by The Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at www.aboutschwab.com/community. The Charles Schwab Foundation is classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. nor its parent company, The Charles Schwab Corporation.