The resurgence of GME stocks has struck Wall Street and the Internet; a company earlier primed for liquidation has now taken such a massive U-turn as the Gamestop Stocks present themselves as capable competition for the stock market heavy hitters.
The New York Times themed it “Robinhood Army versus Hedge Funds.”. Professionals in the stock market wrote off GameStop Corporation, an American-owned company well-known for its expertise in video games, gaming accessories, and consumer electronics. Wall Street was hell-bent on shorting GME stocks as they were viewed to be outdated, but it was greatly opposed by amateur traders, Redditors, whose primary objective was to drive the GME stocks high up the bullish trend.
This brought about a good ol’ David versus Goliath classic as the hedge funds were successfully defeated and GME stocks were resuscitated.
Fortune was made for a lot of casual traders whose never-ending beliefs in the fight for the rise of GameStop stocks were compensated for, and a revolutionary story was written.
Without a doubt, we are convinced that buying GM stocks is a secured investment with the potential to yield astronomical profits over time, but a lot of us do not know the steps to take on the purchase of GM stocks. That is what this article will hinge on.
Steps To Buying GME Stock
- Visit GameStop Corporation
- Evaluate Different Stock Trading Platforms
- Opening A Brokerage Account
- Confirm Your Payment Details
- Research your stock
- Time of Purchase
- Monitor your investment
- GME stock price Volatility
Step one: Visit GameStop Corporation
GameStop is the leading US-owned retail business where you can get all the information needed on GME stocks.
Step two: Evaluate Different Stock Trading Platforms
The publicity that the significant increase in GM stocks generated interested various stock trading platforms, each with its own rates, terms, and conditions. You are expected to compare bonus offers, deposit fees, and a wide range of different investments before selecting the trading platform to be your broker.
The trading platforms for the purchase of GME stocks are outlined below:
- SoFi Invest
This stock trading platform deals with assets such as stocks, ETFs, and cryptocurrency.
It has a stock trade fee of $0 and a minimum deposit of $1. There are also signup benefits within the range of $10–$100; these signup benefits can only be accessed when you open a crypto trade of $50–$5,000+. It is commonly used to buy Gme stocks because of their commission-free policy, and you get to earn up to $50 when you invite a friend to the platform.
- Robinhood
As the name suggests, it is a favourable option for low-income traders due to its commission-free nature, and you also get the option to start up with a minimum deposit of $0.
Various assets can be traded here, ranging from stocks and options to ETFs and cryptocurrencies. The signup bonus is to be given a free stock of value between $2.50 and $225. It is a major platform for the purchase of Gamestop stocks because you can make unlimited commission-free trades
- Webull
Owned by a Chinese holding company, Fumi Technology is popularly used in buying Gamestop stocks. It also possesses incentives such as a signup bonus of five free stocks valued between $3 and $3,000 when you open an account and pay a deposit and no monthly payment of fees for margin, among others.
- TradeStation
Unlike the other mentioned stock trading platforms, TradeStation also provides a platform for the buying of bonds and mutual funds.
It has a minimum deposit of $2,000 and a sign-up bonus of $150 when you open an account with a promo code.
- Vanguard Personal Advisor
This stock trading platform is different from the others because it builds a portfolio for each client, emphasising your aims and objectives.
It does not offer incentives like the others, but it creates room for communication with its clients, dishing out helpful financial advice in the process.
Step three: Opening A Brokerage Account
Before you can open a brokerage account, you have to be at least 18 years old.
You can open a brokerage account with any of the trading platforms above that are in line with your objective for the purchase of GME stocks. You will fill out an application with important details such as your legal name, date of birth, and state security number.
Step four: Confirm Your Payment Details
You can fund your account through a transfer from an already linked bank account, or you can transfer investments from another broker.
You will fill in whether you want cash or a margin account.
Step five: Research your stock
This is one of the most important steps, as it ascertains whether it is a good investment or not.
In this case, GME stocks are known for their high volatility, especially during a period of ‘short squeeze” in the stock market, but that has not deterred the GameStop stocks, as they are on the verge of resurgence after the last bearish fall.
Step six: Time of Purchase
There are options to buy the desired number of GME stocks with a market order, or you can use a limit order, which delays the purchase until GME stocks reach your desired price.
Step seven: Monitor your investment
Investments are not meant to be neglected; you are meant to continuously monitor your portfolio and look for opportunities to buy or sell your GME stocks.
Step eight: Gme stock price Volatility
This is a point of concern to a lot of us, as Gme stocks have gone from $77.58 to $344.66 over the past year.
The remedy is beta, a measure of a share’s volatility in relation to the market. This will inform good decisions about GME stocks.
Is this the best time to buy GameStop stocks?
Finally, I know a lot of you have this question on your mind, so I have taken it upon myself to conduct the service of a technical analyst. Bear in mind that I will take no responsibility for the decisions you make after receiving this information.
Following popular technical tools such as oscillators, pivots, and moving averages, among others, using a monthly time frame, the market is 11 on buy, nine on neutral, and six on sell.
