Megan Thee Stallion Does $1M Stock Giveaway On Cash App For Her Fans To Dabble In Investing

Megan Thee Stallion is following in the footsteps of fellow celebrity Miley Cyrus by partnering with financial payments company Square Inc.’s SQ Cash App to give away $1 million worth of stock to her fans.

What Happened: Megan Thee Stallion said on Twitter that she is partnering with Cash App to teach her fans about how to invest in stocks.  

The rapper also released a video, “Investing for Hotties,” the first in a series of financial tutorials for her fans.

She urged fans to reply with their Cash App user name for a chance to own some of their favorite stocks. Responders posted screenshots of stocks of companies such as Peloton Interactive Inc. PTON, Microsoft Corp. MSFT and Nio Inc.NIO that they claimed to have received from Megan Thee Stallion.

See Also: Could Megan Thee Stallion And The D'Amelio Sisters Help Snapchat's Original Content Push?

Why It Matters: In April, Miley Cyrus said she is giving away $1 million worth of stock in partnership with Cash App.

Technology giants and online brokerages are increasingly utilizing the power of social media to attract investors to stocks. Square CEO Jack Dorsey is also the co-founder of Twitter Inc. TWTR.

Interest in stocks has seen a boom as a larger number of retail investors began dabbling in the stock markets amid the pandemic.

Price Action: Square shares closed more than 2% lower in Wednesday’s trading session at $243.80.

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Photo by Alfred Marroquin on Wikimedia