StockWhere and How to Buy GameStop Stock - Complete Step By Step...

Where and How to Buy GameStop Stock – Complete Step By Step Guide

Through the course of this article, we will understand all about the GameStop stock and how to buy this stock.

GameStop is a traditional video game, consumer electronics, and gaming merchandise shop based in the United States. It was widely regarded as a failing business—indeed, Wall Street considered its very existence as a physical store obsolete, and its business strategy was on the verge of bankruptcy.

GameStop’s stock price has been on a long-term downward trend—from just about $50 at the start of 2014 to $3 about a year ago—only added to this negative outlook.

Where and How to Buy GameStop Stock - Complete Step By Step Guide

Was GameStop, on the other hand, a failing company? Certainly not, according to some internet investors. The WallStreetBets group, which has a large following on the famous social-media discussion forum Reddit, was particularly upbeat about GameStop’s prospects, helping to boost its stock price in the fourth quarter of 2020.

The company’s shares were trading at nearly $20 at the end of the year. This rebound drew the attention of Wall Street, as well as a number of large hedge funds.

Investors and stock traders are advised to research and study before investing their funds and buying any stock in the market. This will help them make the best investment decisions and help them maximize profit in the long-run.

However, their analysis determined that GameStop was overvalued, so they started shorting the stock; that is, they borrowed the stock to sell it, hoping that the price would decrease, during which point they would repurchase the stock and secure huge profits.

Is GameStop Stock A Good Buy Now? 

Since the beginning of 2021, GameStop has been a favorite with retail traders on Reddit, who have successfully arranged many short squeezes. But let’s take a closer look to determine if buying GME stock is a great investment right now.

Bull Case

Sales at GameStop dropped from $9.2 billion in the fiscal year 2018 to $5.08 billion in the fiscal year 2021, which ended in January. However, sales have climbed to $5.87 billion in the last year, and Wall Street predicts top-line growth of 17.3 percent to $5.97 billion in fiscal 2022.

GameStop’s sales increased by 30% year to year to $1.29 billion in the third quarter of fiscal 2022.

In addition to increasing revenues, GameStop has announced that it will enter the non-fungible token (NFT) market. Digital ownership certificates for intellectual properties such as videos, artwork, and even gaming assets are known as NFTs. According to Bloomberg, the NFT market is expected to reach $41 billion in 2021, with OpenSea, the sector’s biggest participant, valued at $13 billion.

GameStop will manage an NFT marketplace, similar to OpenSea, and entry into this high-growth industry might be a driving force for revenue growth for the company in the future.

Bear Case

GameStop is a video game retail company that has been dealing with declining sales and poor profit margins. The company posted a net loss of $234 million in the latest three quarters, compared to a loss of $296 million the year before. In fiscal 2022, its operating income is also minus $324 million.

Due to economic shutdowns, GameStop, like most other stores, suffered a setback during COVID-19. Even before the pandemic, though, GameStop was struggling to grow sales due to the global move toward digital gaming alternatives. GME’s sales are also expected to drop 1.2 percent to $5.9 billion in fiscal 2023.

Aside from its unimpressive financial metrics, GME stock’s incredible surge in the last year has left it overpriced, considering that it was selling for less than $20 at the end of the year 2020.


Despite recent sales growth, GameStop stock remains a high-risk investment. Launching an NFT marketplace may appear innovative, but it could also turn out to be a passing trend.

GME stock will need to boost its high-margin e-commerce sales and turn profitable in the next months to regain market trust. GME stock is expected to drop by more than 30% in the next one year, according to analysts.

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How to Buy GameStop Stock

Here is a simple guide to help users and investors purchase the GameStop stock and maximize profit from this investment:

Step 1: Select A Reputable Online Broker.

  • The various exchanges that an online broker and investor has access to is one of their most important features. As not all brokers have access to the NYSE, you won’t be able to acquire GameStop stock using some brokerage firms. You would, of course, require a broker who can provide you with access to this exchange.
  • The next most significant aspect of a broker is that it should also match the user. Not all brokers enable every citizen to open accounts with them; some brokers are prohibitively expensive if you only want to purchase a few GameStop shares every now and then, while others are totally free.

Step 2: Open an Account With A Brokerage Firm

  • You’ll need to set up an account when you’ve found your online broker. This is similar to a regular bank account, and it is usually completely opened online. Many brokers make it as simple as creating a new Gmail account, while others require a few days to run a background check on the user. Instead of keeping money on it, you’ll use it to store your GameStop shares, so you’ll absolutely need it to buy and store them.

Step 3: Make A Deposit Into Your Account

  • You’ll have to pay cash for those GameStop stocks. This money must be deposited to your broker first. This is generally very simple and straight-forward, even more so than creating a brokerage account.
  • Using bank transfers and credit/debit card deposits are the most frequent funding methods. Some brokers, such as eToro, allow users to deposit to their investment account using various electronic wallets such as Paypal.

Step 4: Purchase A Gamestop Stock

  • You’ve got the account, the funds, and the target share price. The last step is to make a purchase! You log into your online brokerage account, search for GameStop stock, enter the quantity of shares you want to buy, and click buy to complete the transaction.
  • Hint: when placing an order, you can select from various order kinds. The market order is used to buy at the current market price, whereas the limit order defines the exact price you want to pay for the stock.

Step 5: Review your GameStop Position regularly.

  • After you’ve purchased your GameStop stock, you’re not done yet. It is now extremely important to keep track of your finances. This essentially entails sticking to your investment strategy. If you bought a GameStop stock intending to hold it for a long time, you should attend the annual meeting to get all the latest news and information about the firm.
  • You might utilize other position management tools to sell it soon after seeing a price gain. For example, you can use the target price to determine whether you want to sell the stock at a profit or use the stop-loss to determine the price you want to sell the stock to avoid a loss.

The Top Five Brokers for Buying Gamestop Stock 

Here are the top five brokers for buying the GameStop stock for interested investors:

  • Firstrade
  • TradeStation
  • Webull
  • Tastyworks

Buying the GameStop stock can prove very productive for interested investors and stock buyers in the market but can also be a very risky venture.

This is why investors are advised to understand all about any stock they choose for their investment in the stock market, as this will help them make the best investment decisions.

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