Fairfield County High School Students Compete in Stock Market Challenge Competition

From Patriot Bank:

More than 150 Fairfield County high school students, comprising 42 teams, competed in a stock market challenge competition on Thursday, April 28 at the Stamford Italian Center, offered by Junior Achievement of Southwest Connecticut (JASWCT).

“This is dealing with the market in action. This is hands-on and in real time,” said Ray Milo, a business and technology teacher at Academy of Information Technology Engineering, located in Stamford.

Each team of four students representing local high schools was issued $500,000 virtual cash to buy or sell shares in 26 public companies. The mock trades were instantaneously projected to three screens and tracked stock prices, stock performance graphs and illustrated school team names with portfolio values and rankings.

Students from two schools had the opportunity to meet Kenneth Neilson, president and CEO of Patriot Bank, along with Patriot’s Chief Financial Officer Neil McDonnell and Chief Credit Officer Samuel Davis, who also serves on the board of Junior Achievement. Patriot Bank sponsored two teams from AITE and King Low Heywood Thomas.

“The Stock Market Challenge offers a fun, interactive way for students to develop and sharpen their financial skills that can be applied in the real world and perhaps result in a career direction,” said Kenneth Neilson, Patriot Bank, N.A. president and CEO. “Most Connecticut high schools do not require students to take financial literacy lessons to graduate, so programs like this give more students the opportunity to learn above saving and investing.”

“Junior Achievement is dedicated to finding creative, engaging ways to partner with students and supplement the school day with real-world experiences,” said Jan Ursone, president of JASWCT. “This event brings all kinds of kids from diverse backgrounds together in a unique learning environment during Financial Literacy Month, offering them a unique perspective on how the stock market works. We’re thrilled to help make a positive impact in their financial futures.”

April is National Financial Literacy Month. For the last several years, Connecticut scored an “F” in teaching financial literacy, according to the Center for Financial Literacy, which assigns failing grades to states that have “virtually no requirements for personal finance education in high school.”

Junior Achievement inspires and prepares young people to succeed in a global economy. During the 2015-2016 program year, 11,500 students will participate in Junior Achievement of Southwest Connecticut throughout the communities of Greenwich, Stamford, Darien, New Canaan, Norwalk, Westport and Weston.

The 2016 winning team, “King Investment Partners 9,” was able to grow their virtual half-million dollars to a net worth of $849,172.61 throughout the mock 60-day trading period.

Patriot Bank, N.A. is headquartered in Stamford, Conn. and provides consumer and commercial banking services to individuals, government and nonprofit entities, small and medium-sized businesses and professionals. Patriot Bank currently operates 10 full service branches, eight in Connecticut and two in New York. Patriot Bank was founded in 1994.