Schools
Riverhead Students Win State Stock Market Competition
Make a hypothetical killing on Ugg boots and Blackberries.
Who needs a stock broker when you have the observant minds of Riverhead High School students?
A team of students at Riverhead recently won a stock market game with a hypothetcial investment of $100,000. The team of five - Billy Goode, Owen Keupp, Chris Lara, Joe Menna, and Rodney Rollins - turned a profit over $23,000 in a little less than two months.
The Riverhead team beat out 780 teams statewide to win the competition.
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Their secret? They looked around the classroom.
The team won over $10 a share on the makers of Blackberries (RIMM), purchasing the stock in October at $49.03 and selling in December at $59.24. And Ugg boots made a killing for the group. In October, they purchased the stock (DECK) at $52.03 and sold in December at $82.58.
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“We looked around the classroom and saw all the girls in class wearing Uggs and thought sales would be up with winter and the holidays coming up," said Chris Lara, who hopes to become a business entrepreneur.
Not a bad start.
As a reward for winning the Stock Market Game, the winning groups will be invited to a celebration held at Dave and Busters in June.
For more information about the game see www.stockmarketgame.org.
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