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Michigan Tech’s College of Business recently held their Husky Investment Tournament, which drew over 300 high school business students from the region.
Students were competing for a cash prize and scholarships to Michigan Tech.
Teams of three to four students, used a virtual stock trading tool, and College faculty led video modules, and developed their own investment portfolios.
The teams each received $1,000,000 in virtual money, and the team who had the highest valued portfolio earned $1,000 in prize money and also earned scholarships to Michigan Tech.
Dean of the College of Business, Dean Johnson, said the purpose of the tournament was to offer students more pathways to discover business opportunities at Michigan Tech.
The competition started in February, and battled against Spring Break schedules and the COVID-19 pandemic, which gave the teams a lesson in distance learning.
Dean Johnson also mentioned the students saw the longest bull market in history come to a screeching halt, intensifying the uncertainty of the teams.
While the contest was taking place, the real stock market’s value declined by 26%, but the winning team from Hancock, made up of Ryan Levanen, Lance Meyette, and Blain and Sam Stromer, came back with a positive 24% return.
A team from Negaunee took second, and Houghton wound up in third place.
