How To Buy GameStop Stock | Step By Step Guide
GameStop is a gaming app that has its base in Texas. The GameStop Company has expanded into Canada, Europe, New Zealand, and Europe and continues to expand making it is stock a thrilling investment prospect. As someone interested in investments, it will interest you to know how to buy GameStop stock.
This article is a step-by-step guide on how to buy GameStop stock. But first, let me tell you why investing in GameStop stock is a good idea.
Why Should I invest in GameStop Stock (GME Stock)?
The Covid-19 pandemic that resulted in stay-at-home orders boosted the demand for video games. During this period, GME stock rose over 680%. Elon Musk noticed the increase and tweeted about it, giving it more publicity.
GameStop now has a new concentration on online platforms and has strategized a new marketing system focused on competitive gaming and retro gaming. This will benefit the company in the long run. As a result of this, GME stocks will become one of the stable long-term investments that most investors will like to have in their portfolios.
As you can see, GameStop stock has great prospects. If you are interested in purchasing it, below are steps on how to buy GameStop stock.
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How to Buy GameStop Stock
1. Choose a Brokerage
Choosing a broker is the first step of investing in any company. GameStop is a publicly traded company in the United States, so you can buy its shares through any broker situated outside of the country. There are many GameStop stock brokers, so choose whichever works for you. They will guide you in opening a trading account, and then you finance it.
The next step on how to buy GameStop stock is deciding how many GME shares you wish to buy. When deciding, there are two factors to consider: the current price of GME stock and the amount of money you have to invest. When you’ve decided, next is to watch the market to know when it is the ideal moment to buy.
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3. Select an Order type
The order type informs your broker of the exact time you want your payment order to be executed and the price at which you want to purchase each GME share. Below are the order types:
Market Order: A market order tells your broker to purchase or sell a stock right away, which is at the current market price; whatever it may be.
Limit Orders: Limit orders allow you to set a price at which you want to purchase or sell a stock. Your broker will only execute the trade when the market hits your set price. For example, if you set a purchase for GME stock at a maximum of $195 per share, once the market hits $195 or goes below it, your broker will execute the trade.
Conclusion
Knowing how to buy GameStop stock is the same as buying other stocks. GameStop stock has potential but like every other investment, it is still a risky one. If you do decide to invest in it, I hope that by reading this article, you don’t find any difficulty in buying GameStop stock.
