- During the COVID-19 crisis, the challenger bank is giving away fractional shares of capital.
- Stash has given away $100,000 in goods to 64,000 customers via Twitter and a viral campaign.
Stash has been holding virtual “Stash Parties” throughout the COVID-19 stay-at-home orders, which are half giveaways and part social media events.
The open parties provide users with the opportunity to earn stock in their Stash investing accounts by joining others at 4 p.m. EST each weekday. These events were intended to bring Stash’s strategy to developing good money habits in tiny, repeatable stages to reality. Stash surpassed $1 billion in AUM in increments of $28 in 2021.
Since its inception in January 2020, Stock Parties has attracted over 64,000 participants. Each celebration attracts over 7,000 people on average, with the largest gatherings drawing over 18,000 people. Stash has distributed about $100,000 in “party stock.”
Stash Party Twitter Campaign
The challenger bank promotes its Stash Parties through Twitter (#StashStockParty) and the community. The parties are comparable to Stash’s Stock-Back rewards program, which gives Stash users compensation in the form of fractional shares on their daily purchases. Too far, more than $10 million in Stock-Back awards have been distributed, an increase from $5 million in November 2019.
Earning or donating fractional shares of stock tends to have a halo effect. 65 percent of Stock Party participants keep or acquire more of their earned investment as part of their portfolios. Similarly, according to the business, 30% of Stash clients who got a stock incentive went on to make further investments in that securities.
What Is A Stock Party?
Stock Parties have evolved into a mechanism for thousands of investors to gain fractional shares of stock in a broad range of firms, as well as a way for people to connect during times of isolation. According to the corporation, the parties are becoming more viral in terms of virality, participation, and bonus stock quantities.
The rules of the Stash Stock Party are straightforward. Every daily, Stash utilizes Twitter to announce which stock will be given away that day, and the celebration starts at 4 p.m. EST. Participants may recruit friends ahead of time to increase “party power,” which increases the overall cash amount and each person’s potential stock payout.
