New banks

Looking to boost engagement during quarantine, Stash runs “Stock Parties”

  • The challenger bank is giving away fractional shares of stock during the COVID-19 crisis.
  • Using Twitter and a viral campaign, Stash has given away $100,000 of stock to 64,000 people.
close

Email a Friend

Looking to boost engagement during quarantine, Stash runs “Stock Parties”

Part giveaway and part social media event, Stash has been running virtual "Stock Parties" during the COVID-19 stay at home orders.

The open parties offer the chance for people to earn stock in their Stash investment accounts by joining others at 4pm EST each weekday. These parties were created to bring to life Stash's approach to building healthy money habits in repeated, small steps. Stash recently reached $1 billion in AUM in $28 increments.

SPONSORED

Over 64,000 people have participated in Stock Parties since it launched in January 2020. On average, over 7,000 people join each party, with the biggest parties attracting over 18,000 participants. Stash has given out close to $100,000 in “party stock”.

The challenger bank uses Twitter (#StashStockParty) and community to get the word out about its Stock Parties. The parties are similar to Stash’s Stock-Back rewards program, which rewards Stash customers with cashback in the form of fractional shares on their everyday spending. More than $10 million in Stock-Back rewards have been given out to-date, up from $5 million in November 2019.

There appears to be a halo effect around earning or gifting fractional shares of stock. 65 percent of people participating in Stock Parties hold or buy more of the earned investment as part of their portfolios. Similarly, 30 percent of Stash customers who received a reward in stock went on to make additional investments in that security, according to the company.

Stock Parties have become a way for thousands of investors to earn fractional shares of stocks in a wide variety of companies, and a way to come together during a period of isolation. The company claims the parties are growing in virality, participation and bonus stock amounts.

The Stock Party has simple rules. Each weekday, Stash uses Twitter to announce which stock will be given away that day, and then the party begins at 4pm EST. Participants can recruit friends ahead of the party to boost the “party power,” increasing the total dollar amount and each person’s potential stock reward. 

0 comments on “Looking to boost engagement during quarantine, Stash runs “Stock Parties””

New banks

‘Fintechs need to do a better job of talking about how we’re at the forefront of trust and security’: 5 questions with MoneyLion’s CEO Dee Choubey

  • MoneyLion's revenue increased 34% to $93.7 million in Q1 2023 from $70 million in Q1 2022.
  • Tearsheet spoke with MoneyLion's Dee Choubey about the increased revenue for the quarter, the advancing role of AI in banking, and how the banking crisis is affecting fintechs.
Sara Khairi | May 18, 2023
New banks

5 questions with Stash CEO Liza Landsman

  • Stash continues to grow, expanding its B2C offering while it expands into working via a B2B model.
  • We recently caught up with new CEO Liza Landsman about her new role and where the firm is headed.
Zachary Miller | May 04, 2023
New banks

Quick Take: MoneyLion partners with Column Tax – but how does the partnership align with the former’s product suite?

  • In order to provide convenient tax filing experience to its customers, MoneyLion has partnered with Column Tax. So how is this partnership in line with its product suite?
  • MoneyLion shareholders have had a rough ride lately as the firm’s share price tumbled 80% last year and 18% in February this year -- can the company gain ground in the long term on the strength of its underlying businesses?
Sara Khairi | March 16, 2023
New banks

Gamifying financial literacy is tough. Can Greenlight’s Level Up get it right?

  • Financial literacy games can be gimmicky and may fail to find the balance between “game” and “education”.
  • Level Up by Greenlight focuses on gamification in a manner that's sticky, but for the right purposes.
Rabab Ahsan | February 17, 2023
New banks

Rebundling banking services: Are fintechs trying to be more like banks?

  • Why are fintechs that have grown to a certain size continuing to pursue a banking license?
  • Luis Trujillo, CCO at Alviere sheds light on whether acquiring a license guarantees a successful banking business model for fintechs and if it constitutes a threat to banks.
Sara Khairi | January 09, 2023
More Articles