Last updated on April 23, 2014 at 16:13 EDT

New Spy Feature Starts Controversy at Nation’s Largest Stock Market Game

July 17, 2012

OREM, Utah and SAN CARLOS, Calif., July 17, 2012 /PRNewswire/ — The nation’s largest stock market game stirred both interest and fury over the last few days, as global markets continued their turmoil. In late June, the Utah-based company, Smartstocks.com, launched a new “spy” feature that allows its 600,000 users to see the trades and holdings of other users.

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Some players of the virtual stock market game are not happy. Gary L., one of the game’s longtime players, messaged the site’s support desk, saying, “I think that the spy feature is cheating. It is the same as hacking the game.”

In response, the site promptly added a “Spyblocker” feature within hours of the controversy, allowing gamers to block any spying on their holdings or trading history. Jen, a university student and stock game player, explained, “I don’t need to spy, I just ask the top players how they do it. I guess a pretty smile on my profile photo helps.”

Mike Woolf, VP of Smartstocks.com, says that the company has received a variety of responses to the new features. He encourages players and the public to send in their feedback and opinions via the support desk of the website. Smartstocks.com executives say that the addition of several new features like Smartspy and Spyblocker have caused new registrations to surge in 2012.

Daytraders, stock market addicts, gamers, educators and college students account for many of Smartstocks.com’s 600,000 registered users. The game allows them to test strategies and gain experience without the risk of losing real money. More experienced investors use the stock market game to test out new trading ideas and as a refuge from the storms that have been affecting capital markets.

Shailesh Kumar, CEO of Value Stock Guide, said there are benefits for both students and teachers in using stock market games.

“The main benefit of the stock market game is that students who take part in it earn higher scores on personal finance exams than those who do not play it,” Kumar said. “More than one learning style is encouraged as both students and teachers become acquainted with the rules of the language of saving and investing money.”

Anyone can sign up for a free fantasy stock market account at Smartstocks.com.

Smartstocks.com hosts the largest virtual stock market game in the nation. The stock simulator uses real stocks and tickers from the market. The company’s goal is to spread financial literacy through stock market instructional video courses, as well as its interactive paper trading game.

Press Release Contact
Mike Woolf, Vice President
Orem, Utah 84058

SOURCE Smartstocks.com

Source: PR Newswire