How to Buy GameStop Stock – A Step By Step Guide

In this article, we will understand all about GameStop stock and how to buy GameStop stock.

GameStop is a well-known American retailer of video games, consumer electronics, and gaming accessories. It was widely perceived as a failing firm—in fact, Wall Street thought its physical store was old-fashioned, and its business plan was on the verge of collapsing. The fact that GameStop’s stock has been on a long-term steady decline, from around $50 at the beginning of 2014 to $3 around a year ago, has further added to the unfavorable perspective.

Was GameStop, on the other hand, a failed enterprise? According to some online investors, the answer is no.

How to Buy GameStop Stock, GameStop Stock
Photocredit: CNET

The WallStreetBets group, which has a significant following on the popular social-media discussion forum Reddit, was particularly bullish on GameStop’s future, helping to increase the company’s stock price in the final quarter of 2020. At the end of the year, the company’s stock was worth about $20. Wall Street, as well as several large hedge funds, were taken aback by the rebound.

Before investing their assets or purchasing any stock in the market, investors and stock traders should conduct research and study. This will assist them in making the finest financial decisions and maximizing long-term profit.

However, after determining that GameStop was overpriced, they began shorting the stock, which means they borrowed the stock to sell it in the hopes that the price would fall, allowing them to repurchase the stock and make big gains.

Is GameStop Stock a Good Investment Right Now?

GameStop has been a favorite of active investors on Reddit since the start of 2021, with multiple short squeezes successfully completed. But let’s take a closer look at GME stock to see if it’s a good investment right now.

Case of the Bull Run

GameStop’s sales fell from $9.2 billion in the fiscal year 2018 to $5.08 billion in the fiscal year 2021, which concluded in January. On the other hand, sales have risen to $5.87 billion over the last year, with Wall Street forecasting a 17.3% increase to $5.97 billion in the fiscal year 2022.

In the third quarter of fiscal 2022, GameStop’s sales climbed by 30% year over year to $1.29 billion.

GameStop has declared that it will enter the non-fungible token (NFT) industry in addition to generating revenues. NFTs are digital ownership certificates for intellectual property such as videos, artwork, and video games.

ACCORDING TO BLOOMBERG REPORTS, the NFT market is estimated to reach $41 billion in 2021, with OpenSea, the sector’s largest contributor, valued at $13 billion.

GameStop will run an NFT marketplace like OpenSea, and its foray into this rising industry could help the firm boost its income in the future.

Case of the Bear Run

GameStop is a video game retailer struggling with low-profit margins and dwindling sales. In the most recent three quarters, the corporation lost $234 million, compared to a loss of $296 million a year before. Its operating cash flow is likewise expected to be negative $324 million in fiscal 2022.

During COVID-19, GameStop, like most other businesses, suffered a major setback due to economic breakdowns. However, GameStop was having trouble increasing revenue even before the epidemic due to the global shift toward digital gaming options. In fiscal 2023, GME’s sales are predicted to dip 1.2% to $5.9 billion.

Apart from its disappointing financial indicators, GME stock’s tremendous rise over the previous year has left it expensive since it was trading for less than $20 at the end of 2020.

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GameStop stock is a risky investment, despite recent sales gains. Establishing an NFT marketplace may appear to be creative, but it could also be a transitory fad.

GME stock will need to increase its high-margin e-commerce transactions and turn profitable in the coming months to rebuild market confidence. According to experts, GME stock is predicted to tumble by more than 30% in the next year.

How to Buy GameStop Stock

Here’s a quick guide to help users and investors on how to buy GameStop stock and get the most out of their investment:

Step 1: Find a Trusted Online Broker.

  • One of the most significant qualities of an online broker and investor is their access to numerous exchanges. Some brokerage firms will not be able to purchase GameStop shares because not all brokers have accessibility to the NYSE. Obviously, you’ll need a broker who can help you gain access to this exchange.
  • The second most important feature of a broker is that it should be compatible with the user. Not all brokers allow citizens to register accounts; some are excessively expensive if you only want to buy a few GameStop shares once in a while, while others are completely free.

Step 2: Register with A Brokerage Firm.

  • Once you’ve chosen an online broker, you’ll need to create an account. This is comparable to a traditional bank account; however, it is often opened entirely online. Many brokers make it as simple as setting up a new Gmail account, while others take several days to conduct a thorough search on the user. Just like the traditional bank, users will use it to hold the GameStop shares instead of keeping money on them.

Step 3: Deposit Money Into Your Account

  • To get the GameStop stocks, you’ll have to pay cash. This cash must first be deposited with your broker. Even more so than opening a brokerage account, this is usually fairly easy and straightforward.
  • The most common funding options are bank transfers and credit/debit card deposits. Many brokers, such as eToro, allow users to fund their investment accounts with a variety of electronic wallets, including Paypal.

Step 4: Buy Some Gamestop Stock.

  • You’ve obtained the account, the resources, the share price you want to buy, and also know how to buy GameStop stock. The final step is to buy something! To make the transaction, you go into your online brokerage account, search for GameStop stock, input the number of shares you wish to buy, and click buy.
  • You can choose from a variety of order types when placing an order. The market order is used to purchase shares at the current market price, whereas the limit order specifies the exact price you intend to pay.

Step 5: Check Your Gamestop Position On A Frequent Basis.

  • You’re not finished yet if you’ve bought GameStop stock. It’s more crucial than ever to maintain track of your finances, and sticking to your financial strategy is essentially what this entails. If you bought GameStop stock with the intention of holding it for a long time, you should attend the annual meetings to learn about the company’s latest news and information.
  • You might use various position management tools to sell it as soon as the price rises. You can use the target price to decide whether you want to sell the stock at a profit or the stop-loss to establish the price you wish to sell to avoid a loss.

The Top Five Brokers for Gamestop Stock Purchases

For prospective buyers, here are the top five brokers for purchasing GameStop stock:

  • Firstrade
  • Webull
  • Tastyworks
  • TradeStation

Purchasing GameStop stock can be a profitable enterprise for interested investors and stock buyers in the market, but it can also be a risky endeavor.

This is why investors should learn everything they can about each stock they want to invest in the stock market because this will enable them to make smart decisions.

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About Author

How to Buy GameStop Stock, GameStop Stock
Christopher Ihezie
Christopher is a highly skilled writer who possesses a deep understanding of the interplay between financial markets and technology. His goal in writing is to deliver expert analysis through written content that is easy for readers to comprehend.

With a keen interest in cryptocurrencies and the blockchain industry, he has been among the earliest contributors to the Coin Decimal Crypto Blog.

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