How to buy GameStop (GME) stock in 2023

Use our step-by-step guide to learn how to buy GME stock and compare the best GameStop trading platforms.
By:
Updated: Jul 6, 2023
Listen

Get started in minutes with our preferred broker, Skilling.

9/10

82% of retail CFD accounts lose money.

  • Save
Visit site

A big part of learning how to buy GameStop stocks is finding the best place to make your investment. GameStop stocks are available to invest in through an online stock broker, and it usually takes just a few minutes to buy shares in GameStop when following our step by step guide.

Where to buy GameStop stock?

Copy link to section

The best stock trading platform to use to buy GameStop stock is eToro .

Based on our research, we’ve ranked the top five brokers where you can buy GameStop shares, according to how easy they are to use, how low their fees are, their safety and security rating, and average customer reviews.

1
Min. Deposit
$ 10
Best offer
User Score
10
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

77% of retail CFD accounts lose money.

Read more about how we test, rank & review platforms.

How to buy stock in GameStop in 3 simple steps

Copy link to section

Buying GameStop stock is quick and easy, all you need is an internet connection and a copy of your photo ID. Here’s how to do it.

Step 1. Sign up to eToro

Copy link to section

eToro is the best stock trading platform for beginners. Fill in your details to set up a brokerage account and attach a copy of your ID to verify it.

1
Min. Deposit
$ 10
Best offer
User Score
10
Up to $240 bonus!
Deposit with ACA, Wire, Pay with my bank
Invest for dividends and get payout on stocks on Ex-Dividend day
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

77% of retail CFD accounts lose money.

Step 2. Make a deposit

Copy link to section

Transfer money to your new account with your credit or debit card, a bank transfer, or an alternative payment method, like PayPal. The minimum deposit is £10.

Step 3. Buy GameStop shares

Copy link to section

Search for GameStop using the ticker, GME. Click the ‘trade’ button and enter the details of your investment, such as how many shares you want to buy or how much you want to spend. Hit ‘trade now’ to invest in GameStop and complete your purchase.

It’s as easy as that! You can buy GameStop shares in just 10-15 minutes and now you’re a GameStop shareholder.

Compare the best platforms to buy GameStop stock

Copy link to section

1. eToro. Best for beginners, copy-trading & demo-account

  • Save

2900

No. assets

$10

Minimum deposit

Stocks

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.

77% of retail CFD accounts lose money.

Fundamental analysis of GameStop shares

Copy link to section

What is GameStop’s total worth?

Copy link to section

GameStop’s total net worth is $7.84 billion. This is its total market capitalisation, calculated by multiplying the number of shares outstanding on a stock exchange by the current share price.

How has GameStop’s share price performed in recent years?

Copy link to section

The current GameStop stock price today is $25.76, which is 70.34% below its all time high of $86.88, which it reached on January 27, 2021.

Overall, GME is up 526.76% over the last five years. The GME share price is down 32.58% in 2023 with a 52 week high of $63.05 and a 52 week low of $19.40.

What is GameStop’s EPS?

Copy link to section

GameStop’s EPS is $-1.71 EPS stands for earnings per share and is calculated by dividing GameStop’s net profit by the number of shares outstanding. It gives you an idea of how valuable a company is.

What is the GameStop P/E ratio?

Copy link to section

GameStop’s P/E ratio is -15.10

The P/E, or price to earnings ratio, tells you how much you would have to pay per share for $1 of GameStop’s earnings. 

It is calculated by dividing the share price by the earnings per share. You can use GameStop’s earnings estimates to predict its future (or forward) P/E and set a target price you think the stock can reach.

What is GameStop’s dividend yield?

Copy link to section

GameStop’s dividend yield is 0%. The dividend yield tells you how much of GameStop’s share price it gives back to shareholders in dividend payments every year.

Is GameStop stock a buy or sell?

Copy link to section

The indicator below shows you live technical ratings for GameStop stock on time frames from one minute to one month. 

It tracks a selection of key technical indicators on live market data, including moving averages, relative strength index (RSI), oscillators, and momentum.

This indicator should be used when you research GameStop to help you decide whether to buy GameStop shares. Past performance is no guarantee of future results. It is not investment advice or a recommendation from Invezz to buy this stock.

Is GameStop a good investment for me? 

Copy link to section

The right answer is different for each person, so here is some information to help you decide whether to buy stocks in GameStop.

  • GameStop is the original meme stock. In January 2021, a group of retail investors on the Reddit message board, known as r/WallStreetBets, coordinated a mass buying spree that saw GameStop stock surge over 1,000% in the space of a month. Ever since, it has been a volatile stock, regularly seeing a new flurry of activity whenever any news breaks about the company.
  • GameStop was the victim of a short squeeze. One reason for its meme stock status is the fact that lots of short sellers had predicted the company’s demise as a result of the pandemic. Short sellers loan shares in order to sell them, with the idea that they’ll be able to buy the shares back later at a lower price and repay the debt. By buying lots of stock, the Reddit traders tried to engineer a short squeeze, which forces the short sellers to close their positions as the share price rises to avoid an even bigger loss.
  • The company is a high street video game retailer that’s trying to transition to an online model. The negativity around GameStop going into 2021 was justified on the basis that the pandemic and its associated lockdowns were extremely bad news for high street stores. GameStop is a ‘brick and mortar’ retailer, i.e. it sells games from a physical store. It was already struggling to compete before many of its stores were forced to close by the coronavirus pandemic, because many people now download games online rather than buying them in CD-format.
  • Ryan Cohen is the activist investor who’s leading the transition. Cohen invested in GameStop in 2020 and is currently chairman of the company. His influence is part of what drove the initial meme craze, as investors believe he can be the man to turn the ship around and successfully change the business to one that is online-focused, rather than relying on shop footfall to sell hard copies of games.
  • GameStop performed a stock split in July 2022. The stock split converted one share into four. Companies perform these types of splits to make the shares more affordable to retail investors but the change is purely cosmetic: it doesn’t change anything about the fundamentals of the company.
  • GameStop has lost money for four years in a row. Despite all the noise that has surrounded it over the last couple of years, the financial picture has been bleak. GameStop has returned four consecutive years of losses and the bottom line has shrunk significantly since 2010. For it to succeed long term, there needs to be a sign that things have changed and the company has found a new and sustainable way to make money.

It’s always a good idea to think about any potential risks there might be as well. Use this summary of GameStop’s pros and cons before you make a final decision on whether to buy GameStop stock.

Pros

Copy link to section
  • GameStop is a meme stock that regularly sees big rises (and falls) in price
  • Ryan Cohen is chairman and is a respected figure in the investing world
  • Cohen is leading a movement to modernise the company away from being a pure high street retailer

Cons

Copy link to section

Are there other ways to buy shares in GameStop?

Copy link to section

Yes, you can invest in GameStop stock in a few different ways. One option is to buy stock in GameStop directly through an investment platform as laid out above, while another popular choice is to invest in a fund. 

Mutual funds provide instant diversification to your investment portfolio by investing in lots of companies at once. You can invest in a NYSE index fund to get exposure to GameStop, or choose a tech ETF.

Another option is to use a social copy trading platform, like eToro . Find a trader who you like and copy their GameStop trades directly to your own account. 

This can be a good investment strategy for beginners and a way to learn how to buy GameStop shares from someone with more experience.

What are the fees for investing in GameStop stock?

Copy link to section

It depends on the stock broker. Some platforms charge a flat fee per trade, others charge a commission as a percentage of the total trade value each time you buy GameStop stocks.

Consider that there may be other costs to trading too. Other fees can include deposit and withdrawal fees, or inactivity fees if you don’t use your account for three months or more. 

These are the trading platforms that charge the lowest fees for buying stocks in GameStop.

Trading platformTrading fees
eToro $0
Skilling $0
Capital.com $0
Degiro £1.75 (UK) / $0 US
AvaTrade 0.13% commission

How to sell GameStop stock

Copy link to section

When you decide the time is right to sell and lock in some profit (or cut your losses), log into your broker account and navigate to your portfolio. 

From there, find your GameStop stock and you’ll see a ‘sell’ option next to it. Click that to set the details of the trade (you don’t have to sell all your stocks at once) and sell back to cash.

Should I buy GameStop stock now?

Copy link to section

It’s your investing goals and style that define whether now is a good time to buy. The current GameStop stock price plays into it but ultimately it depends on your investment horizons.

  • If you’re a short term trader: the goal is to make money by buying and selling stocks regularly to secure a profit or avoid a loss. That can mean trading hourly, daily, or weekly but the focus is always on the near future. Traders learn how to buy stocks in GameStop based on short term technical analysis and don’t hold shares for a long time, so any time can be a good time to buy GME.
  • If you’re a long term investor: you’re more interested in long term price appreciation than whether a stock is up or down on any given day. The important thing is finding a stock with a strong foundation where you think the share price will be up over a period of months or years. If you think GameStop’s fundamentals are solid then the best time to invest in GameStop stock is after a dip or a pullback in price.

Most new traders sit somewhere between these two positions. You don’t want to actively trade GameStop stock all hours of the day but you don’t want to wait years for a return either.

Either way, following GME price news and analysis will help you decide when to dip your toe into the market.

GameStop Corp (NYSE: GME) jumped roughly 10% in extended trading after reporting better-than-expected results for its fiscal second quarter. GameStop second-quarter financial highlights GameStop ended its second quarter with nearly $1.20 billion worth of cash and equivalents and little debt. Despite
GameStop (NYSE: GME) stock price has been a good investment in 2023. The shares have jumped by ~39% this year, outperforming the broad market since the S&P 500 and Nasdaq 100 indices rose by 15% and 38% this year. Despite the increase, the company’s shares have dropped by more than 80% fro
GameStop Corp (NYSE: GME) lost more than 20% in extended hours after its board fired CEO Matt Furlong. GameStop names Ryan Cohen its Executive Chairman The gaming merchandise retailer also elected Ryan Cohen as its Executive Chairman on Wednesday. He’ll oversee management and be responsible fo

FAQs

Copy link to section
Is GameStop stock overvalued?
Do I have to pay capital gains tax on any profits I make?
What is GameStop’s ticker symbol?
Does GameStop pay dividends?
Is GameStop ESG friendly?
When was the GameStop stock split?


Sources & references
Risk disclaimer
James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the... read more.