RHS business students top finishers in statewide investment competition
Ridgefield High School business students are out of the classroom due to the COVID-19 crisis but that did not stop many from actively trading stocks in a statewide investment competition. Accounting and finance students Mike Zvon and Conor Kain finished 1st and 7th respectively in the state in the Stock Market Game investing simulation.
Over 800 students across the state competed for the title of best stock picker. Each competitor starts with $100,000 and can buy stocks, mutual funds, and bonds. Seventh place finisher Conor Kain employed a buy-and-hold strategy with Tesla and Electronic Arts as his two biggest winners.
First place finisher Mike Zvon, who currently is president of the RHS investment club, went with a much riskier day trading strategy. Mike made some risky trades early on and found himself in last place. Instead of giving up, Mike continued trading and vaulted himself into first-place by short-selling Royal Caribbean and Delta Airlines early on in the COVID-19 crisis. Short selling is a strategy where you can place a bet that a stock price will decrease. Mike made a total of 130 trades with 86 of those trades resulting in gains.
“Mike is very passionate about business and about the markets,” said his business teacher and investment club advisor Jesse Peterkin. Peterkin continued, “Mike was sounding alarm bells about covid-19 before anyone else at school and he correctly predicted that all schools would shut down and the economy would be facing a recession. This year Mike inspired many students to join our investment club and now we have 30 regular members.”
Each year RHS business students learn about the risks of day trading along with strategies on how to become successful long term investors. The SIFMA Foundation’s Stock Market Game program is an online simulation of the global capital markets that engages students in the world of investing and personal finance, and prepares them for financially independent futures. More than 600,000 students take part every school year across all 50 states.