How to Buy GameStop Shares, Check Out This Complete Guide

Bittime - GameStop's stock price shot up 150% in the past week, raising speculation about the continuation of the meme stock trend.

With quarterly net profit soaring 31%, the question is: is GameStop's momentum sustainable this time around or just a short-lived repeat of the 2021 phenomenon?

This guide discusses how to buy GameStop shares through a regulated, low-cost broker.

GameStop Performa?

Recently, GameStop shares jumped 36% to $31.57 as of Wednesday, after accounts linked to Keith Gill, the iconic figure behind the GameStop "short squeeze" phenomenon in 2021, became active again.

The account shared a screenshot of a brokerage account showing holdings of 5 million shares and 120,000 call options with a strike price of $20 and an expiration date of June 21.

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The Emergence of GameStop and GameStop's Popularity

Gill's reappearance and activity in the options market sparked a new wave of buying of GameStop shares and options, although it was accompanied by selling by short sellers.

This phenomenon is similar to what happened last May, when Gill, with his Roaring Kitty account, became active again for the first time since 2021 and triggered a surge in GameStop's share price.

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How to Buy GameStop Stock

GameStop, a well-known video game retail company, trades on the New York Stock Exchange (NYSE) under the ticker symbol GME. This allows investors to purchase GameStop shares through various online brokers.

Among the available options, eToro stands out as one of the best platforms.

GameStop Stock Buying Guide

steps in creating a brokerage account on eToro, a well-known platform with an easy and fast registration process.

Step 1: Register via a trusted website (example: eToro)

• Visit your investment gateway: Go to the eToro website or download the eToro app for iOS/Android.
• Click the Register button: Open the door to opportunity by clicking the easy-to-find Register button.
• Fill out the registration form: Complete the registration form that appears with your personal information, including username, nationality, home address, email address, and mobile phone number.
• Account verification: follow the instructions to verify your account and complete the registration process.

Before starting trading on eToro, you need to complete a quick and easy Know Your Customer (KYC) process. This is a standard measure implemented by all regulated brokers to ensure security and regulatory compliance.

The KYC process on eToro only requires a few simple steps, namely:

Upload government-issued identification (KTP, Driver's License, or Passport).

Verify your proof of address (bank statement, utility bill, or other official letter).

Your documents will be immediately verified by the eToro team, assuming you upload them correctly and in the appropriate format.

Step 2: Determine the Investment Amount in GameStop

GameStop, with a market capitalization of more than $12 billion, has emerged as one of the most volatile stocks on Wall Street.

For investors, this indicates the importance of careful consideration in determining the size of their investment.

Before making a decision, do in-depth research into GameStop's financial performance. Compare quarterly revenue, net income, free cash flow, and other important metrics with peer companies. This will help you understand the stock's intrinsic value and potential risks.

eToro offers flexibility by providing fractional shares of GameStop. This means you can start investing with just $10. This platform also provides thousands of other popular stocks, allowing you to diversify your portfolio.

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Step 3: Add Funds to Your Investment in GameStop

After determining the amount you want to invest in GameStop, the next step is to make a deposit.

eToro: A Great Choice for Fee-Free Deposits and Withdrawals

eToro can make deposits and withdrawals in USD without fees. This platform supports various payment methods, such as Visa, MasterCard, Maestro, Paypal, Neteller, and ACH. For US clients

Step 4: Find GameStop and Select Order Type

Type 'GameStop' in the search field provided.

Click the 'Trade' button to open the GameStop stock trading page.

You will see an order box for GameStop stock.

Step 5: Invest in GameStop

After selecting the order type, enter your investment amount in USD.

The equivalent number of GameStop shares will automatically update based on market price.

Conclusion

Before investing, do thorough research and understand your risk profile. Make sure you only invest with funds you are willing to lose.