What I learned with my purchase of GameStop Stocks.
Spoiler Alert: I’ve learned a lot.
Disclaimer: I am not a stock expert. I am just sharing my opinion. Buy stocks at your own risk, at the risk of the sometimes volatile stock market and only invest what you can afford. Invest responsibly. Always do your own research. This post and all my stock and money posts are strictly for entertainment purposes only.
On June 28, 2019, I purchased 5 GameStop stocks at $5.50 each, at a grand total of $27.49.
Today, at the time of writing this post, a GameStop stock is $3.75 a stock making my equity a total of $18.75.
If anyone is keeping track at home, I’m down -$8.74 or 37.79%.
What I’ve learned or should have thought about when purchasing GameStop Stocks…
- Always look at the stock trend. GameStop stock has been on the decline for the last 5 years. I should have looked at that before purchasing.
- GameStop stores are (for the most part) usually empty.
- Video games (for the most part) are a digital commodity. For ages, I haven’t purchased a hard copy of a game. I should have thought of that before buying this stock.
- GameStop prices are over priced.
- I haven’t been to a GameStop in several years. I should have thought that was a bad sign as well.
- Sony and Microsoft aren’t coming out with a console until 2020 so therefore older console won’t be traded until at least 2020. GameStop is known for older console trade in when new consoles are released.
If you're curious I purchase my stocks on the Robinhood App. I wrote a post about why I started investing my money in stocks via that Robinhood app and why I stopped playing lotto scratch cards. If you'd like to check out my blog click here OR if you want to check out the Robinhood app you can click here (please note if you use my referral link you receive a free stock and I do as well).
As I get deeper into my stock purchasing adventure I learn more and more about what I should purchase and I shouldn’t and what I shouldn’t have purchased but that’s part of the journey, learning. If you aren’t learning then you’re doing it wrong.
What stocks have you regretted purchasing? Or if you haven’t purchased a regret yet (YAY!! :)) then what stock are you looking into purchasing next?
Happy stock buying!