Northside College Prep won the 6th Annual Magnetar Academy Team Challenge at Navy Pier on Saturday, March 10th, taking home a school grant of $5,000. This year's competition was the biggest yet, with 400 students representing 48 teams from 34 high schools. Deerfield High School placed second, taking home a $2,500 grant, and Lincoln Park High School placed third for $1,000. The Financial Literacy Quiz winner was Whitney Young Magnet High School.
The trading challenge gave students a unique opportunity to experience what it's like to trade stocks in a simulated competition. The simulation lasted two hours and covered 120 days of historical market data—broken down into two 60-minute sessions. Teams began the day with $100,000 in their portfolios to invest from a pool of over 100 stocks. Profit and loss updates were given every few minutes. Teams built their portfolios using a trading application on a desktop computer. Roughly 50 financial service professionals from Chicago-area firms served as team coaches.