How to Buy GameStop Stock – A Beginner’s Guide

Disclaimer – Your capital is at risk, past performance does not indicate future results.

GameStop stock is up almost 150% in the past week, highlighting that the meme frenzy could be set for another prolonged run. With quarterly net income up nearly 31%, will the GameStop momentum continue, or fizzy out like it did in 2021?

In this guide, we explain how to buy GameStop stock with a regulated and low-cost broker. We also explore the GameStop investment thesis to determine whether the stock is a buy or sell.

How to Buy GameStop Stock

GameStop trades on the New York Stock Exchange (NYSE), so the stock is available on most online brokers. That said, we found that eToro is one of the best options. eToro is a 0% commission broker that’s registered with FINRA and the SEC.

The minimum GameStop investment requirement is just $10, meaning risk-averse investors can buy fractional shares. Not only that but debit/credit card and e-wallet deposits are fee-free when using US dollars.

Below, we explain how to invest in GameStop stock when using the eToro platform.

Step 1: Create a Brokerage Account, We Recommend eToro

The first step is to create a brokerage account. eToro offers a simple registration process that takes less than five minutes to complete. Visit the eToro website, or download the app for iOS/Android. Disclaimer – your capital is at risk, your investment can go up or down depending on market conditions.

Click the ‘Sign Up’ button and complete the registration form that appears. This requires some personal information, including the user’s name, nationality, and home address. An email address and cell phone number are also required.

eToro review

After that, a quick KYC process must be completed. This is the case with all regulated brokers. eToro will ask for a government-issued ID and proof of address. The documents will be verified near-instantly, assuming they were uploaded correctly.

Step 2: Decide How Much You Want to Invest in GameStop

While GameStop has a market capitalization of over $12 billion, it’s one of the most volatile stocks on Wall Street. This means investors should think carefully about how much to invest in GameStop.

We’d suggest researching GameStop’s quarterly earnings and comparing them to similar companies. Take note of revenues, net income, free cash flow, and other important metrics.

Do note that eToro offers fractional GameStop stock, meaning you can invest just $10. It also offers thousands of other popular stocks, allowing users to diversify.

Step 3: Make a Deposit

Now that you’ve decided how much to invest in GameStop, the next step is to deposit some funds.

eToro is one of the best online stock brokers for making payments; USD deposits and withdrawals are fee-free. This includes all supported payment methods, including Visa, MasterCard, Maestro, Paypal, Neteller, and ACH. The minimum deposit is just $10 for US clients.

eToro deposit funds

eToro also supports other nationalities and currencies. However, the minimum deposit increases to $50. What’s more, there’s an FX fee of at least 1.5% when using other currencies. These fees should be built into your GameStop cost basis.

Step 4: Search for GameStop and Choose Your Order Type

In the search box, type in ‘GameStop’. Then click the ‘Trade’ button. You will now see an order box for GameStop stock.

eToro offers two different order types:

  • Market Order: This allows you to buy GameStop stock instantly at the current market price. Market orders are best suited to beginners.
  • Limit Order: Alternatively, limit orders enable you to choose the price at which your GameStop order is executed. For instance, suppose GameStop currently trades at $39.55. You might want to enter the market when GameStop drops to $39.20.

Choose your preferred order by clicking on ‘Order Type’.

Step 5: Invest in GameStop

Now that you’ve chosen an order, you must type in your investment amount. This should be stated in US dollars. Based on the market price, the equivalent number of GameStop stocks will be updated.

GameStop stock

In our example above, we’re investing $1,000, which gets us 25.27 shares. Click on the ‘Buy’ button to buy GameStop stock. The stocks will then be added to your eToro portfolio.

Your capital is at risk, past performance does not indicate future results.

Best Stock Brokers for Trading GameStop Stock

Wondering where to buy GameStop stock in 2024?

Here’s an overview of the best brokers for the job:

  • eToro: A regulated broker offering 0% commission on thousands of stocks, including GameStop. Offers fractional shares from $10, plus copy trading tools for automated investing. A great option for beginners seeking a user-friendly platform. Disclaimer – Your capital is at risk, past performance does not indicate future results.
  • XTB: Offers more than 3,000 stocks from 16 major exchanges. GameStop stock can be purchased commission-free, assuming the monthly turnover is under €100,000. Also offers competitive APYs on uninvested cash balances.
  • Libertex: Another 0% commission broker that offers GameStop stock. A popular option for mobile traders, with Libertex offering an intuitive app for iOS and Android. Also supports other asset classes, including precious metals, energies, indices, and forex.
  • AvaTrade: A popular online broker offering CFDs, allowing users to trade GameStop stock with leverage. Short-selling is also supported. AvaTrade is regulated in nin jurisdictions and offers 0% commission on all supported markets.

Is GameStop a Buy Right Now?

Let’s explore the GameStop stock investment thesis in more detail. This will help you decide whether GameStop is a viable investment.

A Potential Return of the Meme Stock Frenzy

Before we get to the fundamentals, it’s important to recognize that GameStop is a speculative stock. It was front and center of the meme stock frenzy that took place in early 2021. Put simply, a group of retail investors on Reddit – alongside an internet analyst known as ‘Roaring Kitty’, helped GameStop stock archive unprecedented heights.

At the time, GameStop was heavily shorted by Wall Street hedge funds. The strong price momentum that followed resulted in a ‘short squeeze’ – costing hedge funds billions of dollars, and amplifying GameStop’s gains further. Crucially, the meme stock frenzy eventually fizzled out later in 2021.

However, it now appears to have returned. As explained by the BBC, Roaring Kitty recently posted on X for the first time since mid-2021. This has spurned new interest in GameStop – with the stocks up almost 150% in the prior week. On a one-month basis, GameStop stock is up over 280%.

Quarterly Earnings Reports

Investors should also consider the financials when deciding whether or not to buy GameStop stock. As per its most recent quarterly earnings report, GameStop’s revenues declined by almost 20% year-over-year.

GameStop revenues

However, net income increased by nearly 31% – up to $63.1 million. There was also a notable decline in operating expenses. Down over 35% year-over-year, expenses were reduced to $318.3 million. Shareholders also saw a 37.5% increase in earnings per share.

That said, GameStop’s balance sheet could be improved. Cash and short-term investments declined by 13.7%, down to $1.2 billion. Total assets also declined, dropping by almost 13% to $2.71 billion.

Does GameStop Stock Pay Dividends?

No, GameStop doesn’t have a dividend policy. This means potential returns will come solely from stock price appreciation. Those looking for income-generating companies can read our guide on the best dividend stocks.

Renewed Business Vision

GameStop operates in a declining marketplace; it sells video games and other related products in brick-and-mortar locations. However, GameStop’s management team is diversifying its business model into new markets.

This includes a strong focus on digitalization, with GameStop increasing its market share in online gaming sales. Crucially, unlike the brick-and-mortar space, online gaming is growing at unprecedented speeds. PwC estimates that global gaming sales will reach $321 billion by 2026. This means GameStop’s transition from physical to digital sales is welcome news.

Ryan Cohen’s appointment as GameStop CEO in 2023 is also promising. Cohen is spearheading an aggressive cost reduction program, which is evident in GameStop’s recent earnings reports. In addition to broader internal restructuring, Cohen has personally increased his stake in GameStop to $10 million.

Cohen will also allocate company funds to the private and public investment markets, allowing GameStop to tap into emerging industries. GameStop stock was priced at $16.84 when Cohen became CEO. The stock has since hit a high of $64.83.

GameStop Stock Price History

GameStop stock has witnessed extreme volatility in recent years. Five years prior, GameStop was trading at just $2.15. At the peak of the meme stock rally in January 2021, GameStop hit highs of $81.25. However, by the turn of 2024, GameStop was trading at just $16.67 – a decline of almost 80% from its 2021 peak.

Price momentum has since reversed. In the prior five days of trading, GameStop stock has increased by almost 150% – peaking at $64.83. There’s been a huge market correction in the past 48 hours, with GameStop currently trading at $39.55. That’s a 38% decline.

GameStop stock chart

This could offer a great time to buy GameStop stock, on the assumption the market correction is temporary. Conversely, GameStop’s 2024 rally could also fizzle out. The key issue is that investments are speculative; GameStop’s recent price performance doesn’t reflect its financials. With this in mind, investors should proceed with caution.


GameStop’s recent price momentum could mean that another meme stock frenzy is imminent. Growth of almost 150% in the past week is reminiscent of GameStop’s 2021 rally.

Although Ryan Cohen’s appointment in 2023 has already yielded notable strategic changes, GameStop’s remains a risky proposition. Its recent price growth is largely based on speculation, so ensure adequate research is conducted before proceeding.

Your capital is at risk, past performance does not indicate future results.


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Kane Pepi
Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…