TheStreet.com Defers Prize Money for Beat the Street

Since our founding, TheStreet.com has strived to maintain the highest integrity in all of our pursuits. This is especially true with initiatives that involve our readers.

On April 2, TheStreet.com launched its first-ever stock market trading game, "Beat the Street," which ran until May 31. The game was intended to allow participants to try their hand at stock investing in an environment as realistic as possible, with a cash prize of $100,000.

The final results of the game indicate that players employed trading strategies to achieve returns that could not be duplicated in the real world, thereby depriving other contestants of an equal chance to win.

To ensure the integrity of future games, TheStreet.com has established additional safeguards to help level the playing field for all participants. Anyone found to be violating the rules will be disqualified.

There will be no cash prize awarded to any players for their participation in the first game. Instead, TheStreet.com will add the money from the first "Beat the Street" game to the grand prize of the second game, which will now total $150,000, with players of the second game eligible for additional weekly cash prizes.

I invite you to participate in the soon-to-launch "Beat the Street 2.0" game. All participants from game one are eligible to participate in game two.

Good luck with your trades, and please remember to watch for our daily updates on TheStreet.com site.

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Dave Morrow

David Morrow is editor-in-chief of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He appreciates your feedback; click here to send him an email.