How to buy GameStop (GME) shares

How to buy GameStop stock, a step-by-step guide

If you’re new to investing, we can help. These are the steps to follow in order to start your journey on the stock market:

Choose a broker and create an account

To buy GameStop stock you’ll find it easiest to use an online broker. You can check out the comparison table above to find one that’s right for you. Once you’ve selected your broker, head over to their website and follow the steps to create an account.

Decide how much to invest

Before you go on to invest, you’ll need to decide how much money you want to put into GameStop. It’s a meme stock so it’s riskier than other investments and it’s likely you’ll experience a lot of ups and downs in its price, so you should take that into consideration.

Research GameStop and its potential

This guide has lots of information about GameStop and what makes it a good investment. If you want to dig deeper into the company you could look at its latest financial reports on its investor relations page to judge its previous and potential performance.

Place an order for GME stock

When you’ve set a budget and finished your research you’ll be ready to place your order. Navigate to your brokers search tab and enter GameStops ticker symbol, GME. you’ll then be taken to its trading page where you can place your order, including how many shares you want.

Execute your order

Your position will be executed immediately or there may be a slight delay. If you place your order outside of market hours it will go live when the market opens. You can monitor your GME purchase in the open positions section of your brokerage account.

Review your investment regularly

It’s important to check up on your investment at regular intervals and that’s especially true for meme stocks like GME. Its price will likely experience a lot of volatility so it could be a good idea to set a stop loss to protect your capital.

What is GameStop? And should I invest?

GameStop is a company that sells video games, electronics, and other gaming-related products. Founded in Texas in 1984, the company now operates internationally with more than 5,000 stores worldwide.

Whether you should invest in GameStop or not depends on a variety of factors – both short and long term. A surge of interest in the stock sent the GME share price skyrocketing in January 2021 and even as the price has settled down again, the attention it gave to GameStop’s brand could be reason to be more bullish about its long-term prospects.

The brand had to close almost 450 locations in 2020 after poor performance during the pandemic, but now it’s not quite so clear what the business’s long term prospects are likely to be. One option first reported in 2022 is that the company might expand its digital operations to create an NFT marketplace, which would sell tokens that are associated with the games it sells.

How has the company performed in recent years?

GameStop became a household name in 2021 after the subreddit r/WallStreetBets encouraged retail investors to buy shares in the company. At the start of 2021, GME shares traded at just below $20 – by January 27th they were above $350 a share, and a year late they were still above $100.

This move was inspired by hedge funds adopting ‘short’ positions on GME stock, and independent retail investors piling money into the shares to take on the finance pros. The resulting huge price increases saw the Melvin Capital hedge fund lose billions of dollars.

Prior to this huge spike, GameStop was performing relatively poorly (one of the reasons why the funds were shorting the stock in the first place). As a primarily ‘bricks and mortar’ retailer, GameStop had been losing ground over the past 5 years to more online-based companies, and the COVID-19 pandemic led to them having to close all stores temporarily in March 2020.

Is it a good time to buy GameStop shares now?

This is the question everyone has been trying to answer since early 2021. The brand recognition the company has now, as well as the involvement of activist investor Ryan Cohen, whose purchase of GME shares was part of the reason for its surging popularity, bodes well. But the most important thing to consider is what approach you’re looking to take: short term or long term.

If your aim is to trade GameStop stock in the short term to take advantage of market fluctuations, then you’ll want to read up on technical analysis and how to read stock charts. You’ll also want to keep on top of all the latest news and analysis, as GME shares often move fast and it’s important to see past the volatility and keep a cool head.

You might prefer to take a long term approach to investing in the stock market and in this case the day-to-day fluctuations of GameStop’s stocks will be of less concern as opposed to the company’s future prospects. You’ll want to undertake a fundamental analysis of GameStop to see if you think there’s money to be made by investing, and you can use our most recent analysis to help you:

Latest GameStop news