The WeTrader Paper Trading Competition is a 5-week paper trading contest hosted by the zero-commission trading platform Webull. The 70 contestants—the top 10 portfolios from each weekly round of the contest and 50 of the most popular participants—are vying for the grand prize of either $40,000 in student debt payments or a new Tesla Motors Inc. TSLA Model 3. A portion of the paper profits will also be donated to Shriners Hospitals for Children.
The Grand Prize Round of the Webull WeTrader Paper Trading Competition ends Friday at the closing bell, and the 70 traders in the last round have one more afternoon to turn $100,000 into as much money as possible.
Keeping with previous weeks, a lot of the action has centered around companies reporting earnings for the previous quarter. Most traders appear to be scalping for short-term gains as well.
As the final day of the challenge heads towards the close, let’s take a look at the traders in the lead. (All return figures are as of the November 8 open.)
Webull Handle: Tycoon
Total Profits: $92,000 (up 39% in Championship Round)
Stocks Actively Traded: Tycoon has made the bulk of his profits trading earnings reports after hours. This includes names like Booking Holdings Inc BKNG, Walt Disney Co DIS, CVS Health Corp CVS and HubSpot Inc HUBS. Two of his most frequent targets have been Nektar Therapeutics NKTR and Qualcomm, Inc. QCOM. Tycoon bought and sold between 1,500-2,000 shares of NKTR 9 times on Nov. 6, as the stock oscillated between $18-$19 after hours on earnings. He also bought and sold between 300-413 shares of Qualcomm eight times after hours that day, as the stock traded between $84-$89 on earnings.
Webull Handle: anonymous
Total Profits: $38,000 (up 22% in Championship Round)
Stocks Actively Traded: The current runner-up has also traded heavily around earnings, including names like Activision Blizzard ATVI, Dropbox Inc DBX, Rosetta Stone Inc RST, and Plantronics Inc PLT. A Shake Shack Inc SHAK short on Nov. 5 and Collegium Pharmaceutical COLL long on Nov. 7 also contributed to the portfolio’s strong performance.
Webull Handle: anonymous
Total Profits: $37,000 in profits (18% return)
Stocks Actively Traded: The current third-place trader seems to have targeted more lower-priced names than the other traders at the top of the leaderboard. This includes names like PC&G Corporation PCG, Lions Gate Entertainment LGF, Party City PRTY, ANGI Homeservices ANGI, Range Resources Corp RRC, and Encana Corp ECA.
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