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How to Buy GME Stock

How to Buy GME Stock

In early 2021, the Texas-based video game retailer GameStop dominated the financial news when its stock price skyrocketed amid a buying frenzy. GameStop (GME), which trades on the New York Stock Exchange, has been marked by its dramatic volatility. The stock opened 2021 trading at just $19 per share and surged to $483 in the first month of the year. The activity was fueled by a short squeeze hatched on the r/wallstreetbets Reddit forum. If you missed out on the initial GME rush and are thinking of buying shares now, consider working with a financial advisor to create a holistic investment plan.

How to Buy GME Stock With a Brokerage Account

Any investor can buy GameStop stock through a broker. Remember, the stock trades on the New York Stock Exchange under the GME ticker. If you don’t already have a brokerage account, you’ll need to set one up before you start trading.

Once you have an account, determine how many shares of GME stock you want to purchase and at what price you’re comfortable buying it at. When you’re ready to place an order you can choose between using a market order or limit order. The former enables you to purchase stock at its current market price. A limit order, however, allows you to set the maximum price you’re willing to pay for a share.

Keep in mind that if you can’t afford a full share of GME or other stocks, online brokerages allow you to invest in fractional shares. Using this option, you can invest any dollar amount in GME stock.

How to Buy GME Stock With a Financial Advisor

How to Buy GME Stock

You don’t have to buy and sell stocks yourself. A financial advisor can execute trades on your behalf and provide expert advice that extends beyond buying and selling GME stock. GME’s dramatic volatility earned it plenty of media attention in 2021. A financial professional can help you choose when to buy and sell GME stock, and integrate your shares into a diversified portfolio that mitigates risk.

Company Overview of GameStop

Headquartered in Grapevine, Texas, GameStop is the world’s largest video game retailer. The company was founded in 1996 and now operates thousands stores and e-commerce properties across various countries, where gamers can buy, sell and trade in video games. The company prides itself on receiving used video games, consoles and other devices, and then refurbishing them at global refurbishment operations centers throughout North America, Europe and Australia. Beyond its retail locations, GameStop also owns EB Games, ThinkGeek and Game Informer magazine, a print and digital video game publication with a global subscriber base of millions.

GameStop Company Overview

Video Game Retail– Thousands of stores in multiple countries
– Video game software, consoles and accessories
– Customers can buy, sell and trade-in games
Other Properties– EB Games
– Game Informer
– Micromania
– ThinkGeek
– Zing
– GameStop Gives

GameStop’s Financial Profile

GameStop experienced massive growth from the late-1990s into the early 2010s. The company grew its revenue from $383 million in 1997 to $9.55 billion in 2011. But the video game retailer saw revenue fall in four out of five fiscal years from 2016 to 2020. The company, which went public in 2002, closed hundreds of stores in 2020 as the coronavirus pandemic wreaked havoc on traditional brick and mortar retail.

Despite the company’s recent financial turbulence, GME shares surged in early 2021 as retail traders pushed the stock price upward and squeezed short sellers who had bet on the company’s demise. As a result, the stock has been highly volatile: GME shares shot up to an all-time intraday high of $483 on Jan. 28, 2021 before tumbling to $38.50 by Feb. 19.

As of Feb. 17, 2023, GME stock has dropped even further to $21.55 per share. However, as of this date, that’s still a nearly 440% increase in its stock price over the last five years, according to Google Finance.

Should You Buy GameStop Stock?

How to Buy GME Stock

Before purchasing GME shares — or any other type of security — it’s important to take stock of your own finances and long-term goals. While GME’s dramatic price surges and drops have attracted scores of investors and dominated the financial headlines, you’ll have to determine whether the stock is a fit for your portfolio and risk tolerance.

Be sure to do your due diligence on the company before investing. It may help to review GameStop’s Form 10-k, an annual report that all publicly traded companies must file with the Securities and Exchange Commission. The document highlights everything from a company’s management and risks to its expenses and total revenue.

Tips for Investing

  • financial advisor can help manage your investment portfolio and create a financial plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • Use SmartAsset’s asset allocation calculator to determine the right mix of investments for your personal risk tolerance.

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