• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Kiiky Wealth

Kiiky Wealth

Learn How to Build Wealth Online

  • Make Money Online
    • Make Money Fast
    • Make Money with Online Survey
    • Money Management
    • 10 Best Cryptocurrency Exchange Company in Nigeria | 2022 Updates
    • Make money in New York
  • High Paying Jobs
    • Highest Paid Pilot
    • highest paid Sport
    • Highest Paid Flight Attendant
    • Highest Paid Military
    • Highest Paid Doctors
    • Highest Paid Model
    • Highest Paid Comedian
    • Highest Paid Boxers
    • Highest paid Lawyers
    • Highest Paid Podcaster
    • Highest paid Journalist
    • Highest Paid Photographer
    • Highest Paid Preacher
  • Making Money Apps
    • Money Apps for iPhones
    • Money Apps for Android
    • Dating Apps
    • switch apps
    • Shoe Apps
    • Best Fishing Apps
    • Sugar Daddy Apps
    • Cheating Apps
    • Advance Cash Apps
  • Side Hustles
    • Side hustle in Canada
    • Work from Home
    • Side Hustle for Electricians
    • Passive Income Ideas
  • Investing
    • Loan
    • Coins
    • Cryptocurrency
    • Forex
    • Insurance
    • watch free cinema movie online
    • free books for kids
  • Kiiky Home
  • Kiiky Jobs
  • Kiiky Insurance
  • Kiiky Tech

How To Buy GameStop Stock Easily In 2022

May 9, 2022 by Covenant Leave a Comment

Buying stocks isn’t as complicated as it seems. All you need is to do your research, and you are on your way.

It is a way to set aside money while you are busy with life and have the money work for you so that you can fully reap the rewards of your labor in the future.

Before you begin to invest in GameStop shares, ask yourself what kind of investor you are and the level of risk you are willing to take.

If you are interested in GameStop, its shares, and how best to buy GameStop shares easily, keep reading. 

What is GameStop

GameStop is a corporation- GameStop Corp. that deals in American video games, consumer electronics, and gaming merchandise retailers. The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide.

It was founded back in 1984, which makes it 37 years old at the time of writing. There are 4,816 stores associated with the company as of 2021, most of which (3,192) are located in the US.

As of January 30, 2021, the company operated 4,816 stores including 3,192 in the United States, 253 in Canada, 417 in Australia and New Zealand, and 954 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek, and Zing Pop Culture brands. The company was founded in Dallas in 1984 as Babbage’s and took on its current name in 1999.

In 2021 however, the company’s stock price skyrocketed due to a short squeeze orchestrated by users of the wallstreetbets. The company received significant media attention during January and February 2021 due to the volatility of its stock price and the GameStop short squeeze.

The company is now ranked 521st on the Fortune 500. In addition to retail stores, GameStop owns and publishes Game Informer, a video game magazine, and in Australia runs Zing Marketplace an e-commerce retro gaming and pop culture marketplace that facilitates consumer-to-consumer sales.

Big deal!! Check out How to Buy TESLA Stocks in Canada | 2022 Full Guide to Wealth

Why should you buy GameStop Stocks?

Before you buy stocks, you should know the reasons why you should consider buying them. You should consider how lucrative it would be in a few years to come when you would be ready to sell. Some of the reasons you should consider buying GameStop stock are- 

• GameStop stock helped kick off the lucrative “short squeeze” rally that took off in early 2021. Even though the stock is down 68% from its January highs, it’s still been an amazing run for GameStop investors. Of course, you should want to be part of that. 

• Shares of GameStop stock is still up more than 700% this year, turning a $10,000 investment at the start of the year into nearly $81,351 now.

• The stock rally helped GameStop retire its massive pile of debt. And that is a plus. 

• Earnings, new products and services, industry group leadership, institutional buying, and the market’s direction are available to tell you if this is a stock to buy now. Analysts think it has 78% to fall.

Is Buying GameStop Stocks Worth It?

GameStop is down 70% from record highs but remains a high-risk bet for investors given its negative profit margins and falling revenue. GameStop stocks have taken investors on a roller-coaster ride.

RELATED:  Should I Invest in 401k? What Must I know in 2022

Shares of GameStop were trading at less than $3 in April 2020 and soared to a record high of $325 in January 2021. GME stock is currently trading at $106.57, valuing the company at a market cap of $8.13 billion.

In 2018, GameStop’s Stock fell from $9.2 billion in fiscal 2018 to $5.08 billion in fiscal 2021, ending in January.

However, in the last 12-months, the company has increased sales to $5.87 billion, while Wall Street expects the top-line to increase by 17.3% to $5.97 billion in fiscal 2022.

In addition to improving sales, GameStop recently disclosed it’s entering the NFT or non-fungible token segment. NFTs are digital ownership certificates for intellectual properties such as videos, art, and even gaming products.

According to a report from Bloomberg, the NFT market grew to $41 billion in 2021, while OpenSea, which is a leading player in this space, is valued at $13 billion.

However, you should know that GameStop has been wrestling with negative profit margins and slowing sales. For a while now, GameStop reported a net loss of $234 million, compared to a loss of $296 million in the year-ago period.

Currently, the operating cash flow at GameStop also stands at a negative $324 million in fiscal 2022. 

Like most other retailers, GameStop was negatively impacted amid COVID-19 due to economic shutdowns. However, even before the pandemic, GameStop struggled to expand sales due to the worldwide shift towards digital gaming solutions. Further, GME’s sales are forecast to fall by 1.2% to $5.9 billion in fiscal 2023.

In addition to its less-than-impressive financial metrics, the astonishing run of GME stock in the past year has made it expensive, given it was trading at less than $20 at the end of 2020.

How to Buy GameStop Shares?

Step 1 – Choose a Stock Broker

The first step you should take when buying GameStop Shares is to find a great stockbroker you can comfortably buy the GameStop Shares from.

There are many brokers out there in the world, you have to find one that is not only good but also trustworthy. but only a few can be classified as good for retail investors, and even fewer are beginner-friendly enough for first-time traders to use them, while also being safe, regulated, and offering what you need.

There are two brokers that you can easily buy GameStop shares from- eToro and Capital.com

eToro is one of the best stock brokers in the world, having been around for a really long time. It has a user-friendly platform, which everyone who is interested in buying stocks, would find very easy to use.

It is targeted at those who do not have a lot of experience or training in the field of stock trading. The minimum deposit on eToro is $50, which when compared to most other stockbrokers, is quite reasonable.

With eToro, you can purchase any global assets, free without commission. In addition, the stockbroker offers access to a highly useful copy-trading feature, which allows you to find an experienced trader who trades on the platform and then copies their moves.

It is regulated by some of the best regulatory bodies. eToro is one of the best stock brokers to buy GameStop shares from. 

RELATED:  Robinhood vs Acorns Reviews 2022: Pros & Cons | Legit & Scam | How it Works

Capital.com on the other hand is one of the best brokers and a great alternative to using eToro. It is mostly used to trade Contracts for Difference(CFDs) which use GameStop as their underlying asset.

The platform is UK-based and is regulated by the FCA. In addition, this platform allows traders to easily trade with leverage, hence entering positions with only a small portion of their money.

The platform is user-friendly and with a minimum deposit of £20, you could never be wrong with this choice.

Step 2 – Research on GameStop Shares

Before you buy GameStop shares, you must do your research, see what you are actually buying into. You should research the company, its founders, its shareholders, and the purpose of the company.

You also need to ask questions like “What is GME?” or “Why did GameStop stock go up or down when it did?” and of course, always keep track of what’s going on with GameStop if you are keeping track of it to determine whether or not it is a good investment, and particularly after you have already invested in it.

In the course of your research, you must note that companies without controversies and issues are far more likely to have their price grow as investors will feel more optimistic about them.

In addition, you also want to find out how the GME stock price behaved throughout its history. This can show you if the stock is volatile or stable, and what to expect in the future.

The GME Nasdaq price is currently $213.25. For most of its history, its performance was mostly unimpressive. The stock fluctuated from the value of only a few dollars to a maximum of $60, never particularly standing out. Its near-destruction is, ironically, what allowed it to thrive.

However, you should still do your own research. You can find something other people did not see and also boost your confidence towards buying GameStop shares. 

Also see the 25 Best Penny Stocks to Buy Today | Investment Guide

Step 3: Open Account and Invest with any broker of your choice

After you have made your research on GameStop, learned about any of the stockbrokers you can purchase GameStop with, and decided to buy into GameStop shares, the next step would be to open an account and invest with any broker of your choice.

Having said that eToro is the best broker to buy GameStop shares on, and Capital.com is the best of you want to trade GameStop CFD’s, we would use eToro as the subject. The steps to take when opening an account on eToro to invest are-

  • Create an account- Go to the eToro platform and create your account. You can make a new account from scratch with your email, or you can log in with your existing Facebook or Google account.
  • Verify your ID. This is necessary because eToro is regulatory compliant, which means that it follows the laws in all countries in which it operates.

    As such, it is required that you upload documentation, including your ID, driver’s license, or passport, that would prove your identity. Also, you will need to provide a bank statement as proof of address.
  • Fund your account. Since you need money to start investing in GameStop shares, you must deposit for your initial investment. The lowest amount you can deposit for a start is $50.

    You can make a deposit by clicking the “Deposit Funds” button in the bottom-left corner of your dashboard on eToro. Simply select the amount you wish to deposit, select the payment methods, and add payment details. When you are done, hit Deposit again, and your funds will be on their way.
  • Buy GameStop shares. Once your money has been safely delivered into your account, the next thing you should do is to search “GameStop” on the eToro search feature.

    Once you find it, click on the “Trade” button. A new window will open, allowing you to enter details and start your trading.
RELATED:  8 Ways to Make Your Money Work for You in 2022

Want to invest in oil? Check out the 15 Best Oil Stocks To Buy In 2022 | Investor’s Guide

Conclusion

GameStop has attracted a lot of attention in 2021 as a stock investment opportunity, causing many to look into how to buy GameStop shares. In doing so, they wanted to make a profit but doing it nearly destroyed the company.

It managed to survive due to a Reedit group of retail investors known as WallStreetBets, which started a new campaign to buy GameStop shares.

Since then, the situation has calmed quite a bit, but the stock price managed to remain high, which is a good thing for the company.

If you are interested in investing in it yourself, all you need to do is go to eToro or Capital.com and follow our guide from above, and you will be able to start buying GME shares in no time, yourself.

In summary, to buy GameStop shares, you should compare share trading platforms, open your brokerage account, confirm payment details, research on the stock, purchase, and check in on your investment. 

Frequently Asked Questions

GameStop has gained popularity as a meme stock in the past year. And with a lot of people buying into it, everyone wants a share of the cake.

Yes. Even though GameStop reported an operating loss in the last three quarters, with Reddit and WallStreetBets buying in huge, it has regained its profits.

GME stock is valued at a market cap of $8.13 billion

At this time, the GameStop stock managed to breach the resistance at $200, which indicates strength and opens up the possibility of further growth, so purchasing it now might lead to profits.

Compare share trading platforms, use our comparison table to help you find a platform that fits you, open your brokerage account, complete an application with your details, confirm your payment details, research the stock, purchase now or later, check in on your investment.

Before someone can buy GameStop, they must have a brokerage account in which to purchase and hold the stock.

Many brokerages offer the same types of features including online account management and apps with research at one’s fingertips.

References

  • https://www.statista.com/statistics/gamestop-daily-stock-price/
  • https://www.nasdaq.com/articles/better-meme-stock-gamestop
  • https://www.cnet.com/news/gamestop-what-happened-after-everyday-stock-traders-rocked-wall-street/
  • https://coindecimal.com/how-to-buy-gamestop-stock/

Editor’s Recommendations

  • 25 Best Blue Chip Stocks To Buy In 2022
  • 21 Stocks Under 10 Cents All Year Round | How To Buy
  • 15 High Yield Dividend Stocks You Should Buy in 2022

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

What To Do With $100k | A Proven strategy In 2022

15 Highest Paid Job in Hawaii| 2022

How Much Is Million Dollar Life Insurance Policy In 2022

15 Highest Paid Trades in California| 2022

Building Inspector Salary 2022 | How Much Does A Building Inspector Make

15 Highest Paid Trucking Jobs Arkansas |2022

15 Highest-Paid Police Officers in Texas |2022

RN Salary in New York | How Much Does A RN Make in New York

Ask Wonder Reviews in 2022 | How it Works | Legit or Scam

Private Pilot Salary 2022 | How Much Does Private Pilot Make?

Footer

What To Do With $100k | A Proven strategy In 2022

15 Highest Paid Job in Hawaii| 2022

How Much Is Million Dollar Life Insurance Policy In 2022

15 Highest Paid Trades in California| 2022

Building Inspector Salary 2022 | How Much Does A Building Inspector Make

15 Highest Paid Trucking Jobs Arkansas |2022

15 Highest-Paid Police Officers in Texas |2022

RN Salary in New York | How Much Does A RN Make in New York

Ask Wonder Reviews in 2022 | How it Works | Legit or Scam

Private Pilot Salary 2022 | How Much Does Private Pilot Make?

Quiktrip Reviews 2022: Does Quiktrip Do Money Orders?

What Can I Donate To Make Money In 2022

15+ Best USA Private Label Manufacturers in 2022

How to Save Money when Building a house in Nigeria

How to Flip 100 Dollars in 2022 | Full Guide

15 Highest Paid Teachers in Ohio| 2022

Kat Timpf Salary 2022 | How Much Does Kat Timpf Make?

15 Highest Paid Teachers in Massachusetts |2022

New York Rangers 15 highest paid players| 2022

15 Highest Paid Utah Jazz Player| 2022

Wealthy vs Rich: What is the Difference Between Wealthy and Rich?

What Are The Top Short Selling And Squeezing Hedge Funds?

15 Highest Paid Nurse Practitioners In Florida│2022 Edit properly 4 grammar

15 Highest Paid Sheriff’s Department In Texas |2022

15 Highest-Paid Teachers In Georgia | 2022

How to Retire at 55: Full Guide 2022

15 Highest Paid Jobs Idaho Without Degree |2022

25 Best Ways To Invest 50k In 2022: Full Guide

Can You Return Gift Cards: Best Solutions For You In 2022

15 Highest Paid School Districts In Massachusetts |2022

Copyright © 2022 Silicon Africa

  • Contact US
  • Terms & Conditions
  • DMCA Policy
  • Privacy Policy