Bay Area Organizations Partner with Trading App Moomoo to Improve Financial Literacy for Teens

Bay Area Organizations Partner with Trading App Moomoo to Improve Financial Literacy for Teens

PALO ALTO, Calif., Feb. 8, 2022 /PRNewswire/ — Two Bay Place-based mostly businesses dedicated to

PALO ALTO, Calif., Feb. 8, 2022 /PRNewswire/ — Two Bay Place-based mostly businesses dedicated to boosting economic literacy amid teenagers, Palo Alto Schooling Team and LaunchFIT, have partnered with investing application moomoo to launch #Investeen, a campaign aimed at enhancing monetary literacy and fairness financial commitment awareness in adolescents and significant university college students throughout the U.S.

The #Investeen campaign will element a host of participating instructional courses, including livestreamed digital courses and the 2022 International Teen Expenditure Competition (GTIC). The GITC incorporates a paper trading competitors hosted in a specifically programmed environment in the moomoo app. The prime-rated regional groups will be invited to develop an fairness portfolio pitch to a judging panel comprised of investment decision experts, finance media veterans and executives from expenditure firms.

“An sufficient economic literacy training will gain modern youth for a lifetime. This is specially vital now, as youthful buyers progressively enter the economic markets on the heels of the meme inventory trend and broader adoption of trading apps,” claimed Carolyn Bao, Vice President at Moomoo Inc. “We have long-admired Palo Alto Instruction and LaunchFIT’s dedication to financial literacy schooling and are thrilled to spouse with them on this important marketing campaign.”

In conjunction with the #Investeen campaign, moomoo and Palo Alto Education today launched polling data from its study of 120 youngsters among the ages of 13-18 on their ordeals and education and learning surrounding monetary literacy and investing.

Investing instruction from a trusted supply is primarily essential at this stage of lifestyle, presented an overpowering vast majority (92%) of adolescents have curiosity in investing in the stock market—even even though additional than 7 in 10 teenagers (71%) report that they are now obtaining restricted education and learning about investing, or none at all. When requested to amount their expertise of investing in the stock industry, most adolescents (69%) claimed to have some primary information only while 13% of members say they have completely no idea.

When requested why they were being interested in investing, money independence was the most typical response, with 82% of individuals citing it as a motivator. The details also showed that teens are prioritizing future requires, this kind of as spending for university (54%) and setting up up retirement price savings (43%) about limited-phrase luxuries, this sort of as shopping for a car (25%).

The greater part of adolescents say they change to pals and relatives (76%) or financial internet sites (66%) for expenditure advice and suggestions. Though virtually 50 % of teens (43%) discover about investing via on the net message boards and social media, their trust in influencers’ investing direction is low–with fewer than 13% of surveyed teens responding that they have faith in influencers for financial commitment tips and tips.

Notably, irrespective of the excitement bordering cryptocurrency, teenagers surveyed report that they favor common assets like stocks (73%) and personal savings accounts (43%) about cryptocurrency (25%) and NFTs (12%).

“It is really very important for teens to start mastering about economic literacy now because they have the electricity of time on their facet,” said Joyce Lin, Co-founder of LaunchFIT, a nonprofit established by teenagers for teenagers. “The before they master, the extra compounding potential their funds will have. Regretably, numerous faculties do not go into depth on matters these as preserving and investing, which is where In shape comes in. We hope to fill the understanding hole left by educational facilities.”

Between now and February 14th, pupils can sign-up for the GTIC paper investing opposition on moomoo’s site. Winners will be named and prizes will be awarded in April 2022.

About Palo Alto Instruction Group

Based mostly in Silicon Valley, Palo Alto Education Group aims to ignite the passion and increase the opportunity of each and every college student in finance, investing and AI with social equity, in preparation for international competitiveness. www.thePaEdu.com

About LaunchFIT

LaunchFIT (Money Intelligence for Teenagers) is a 501c(3) non-financial gain corporation with the purpose to empower teenagers as a result of spreading economical know-how, instructing the electric power of accountable decision creating, and economic literacy. www.launchFIT.org

About Moomoo Inc.

Headquartered in Palo Alto, California, Moomoo Inc. is a firm that features a fee-totally free* expert investing app. With highly developed investigate applications, cost-free in-depth current market knowledge, and one particular of the most lively on the net communities, moomoo empowers individual buyers to trade like a pro. In the United States, securities are offered by Futu Inc., a certified broker seller controlled by the United States Securities and Trade Fee (SEC). Futu Inc is also a member of the Monetary Market Regulatory Authority (FINRA) and Securities Investor Safety Company (SIPC). For much more facts about moomoo, make sure you pay a visit to the company’s formal website www.moomoo.com.

*Commission-totally free investing is readily available only to U.S. people investing in the U.S. marketplaces.

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Resource Palo Alto Schooling Group