How to Buy Boeing Stock: A Step-by-Step Guide
Boeing (NYSE: BA) is one of the world’s leading aerospace and defense companies, producing commercial airplanes, military aircraft, satellites, rockets, and more. Boeing has been in business for over a century and has a market capitalization of over $120 billion as of May 2023.
If you are interested in investing in Boeing stock, you might be wondering how to do it. In this article, we will explain how to buy Boeing stock in six simple steps, as well as some factors to consider before making your purchase.
Step 1: Open a trading account
The first step to buy Boeing stock is to open a trading account with an online broker that offers access to the New York Stock Exchange (NYSE), where Boeing shares are listed. There are many brokers to choose from, but some of the most popular ones are Public, eToro, and Robinhood. These platforms allow you to buy, sell, and hold Boeing stock from your computer or smartphone, with low fees and user-friendly interfaces.
To open a trading account, you will need to provide some personal information, such as your name, address, email, phone number, and social security number. You will also need to verify your identity by uploading a copy of your ID or passport. Depending on the broker, this process can take from a few minutes to a few days.
Step 2: Transfer funds to your account
The next step is to fund your trading account with the amount of money you want to invest in Boeing stock. You can do this by linking your bank account or debit card, or by using an alternative payment method such as PayPal or wire transfer. The minimum deposit amount varies depending on the broker, but it can be as low as $10.
Once you have transferred funds to your account, you are ready to buy Boeing stock. However, before you do that, you might want to do some research on the company and its performance.
Step 3: Decide how much to invest
Before you buy Boeing stock, you should decide how much you want to invest in it. This will depend on your budget, risk tolerance, and investment goals. You should also consider the current price of Boeing stock and its historical performance.
As of May 2023, the current price of Boeing stock is $211.66 per share. This is 52.62% below its all-time high of $446.01, which it reached on March 1st, 2019. Since then, Boeing stock has been affected by several challenges, such as the grounding of its 737 MAX jets after two fatal crashes, the coronavirus pandemic that reduced air travel demand, and the competition from rivals like Airbus and SpaceX.
However, some analysts believe that Boeing stock has potential for recovery in the long term, as the company resumes deliveries of its 737 MAX jets, benefits from the rebound in air travel demand, and diversifies its revenue streams with new products and services.
Therefore, if you are bullish on Boeing’s prospects and willing to hold the stock for several years, you might want to invest a larger amount of money in it. On the other hand, if you are bearish on Boeing’s outlook or looking for a short-term trade, you might want to invest a smaller amount or look for other opportunities.
Step 4: Choose between company shares or ETFs
Another decision you have to make before buying Boeing stock is whether you want to buy individual company shares or exchange-traded funds (ETFs) that include Boeing among their holdings. Both options have their pros and cons.
Buying individual company shares gives you direct exposure to Boeing’s performance and allows you to benefit from its dividends and capital appreciation. However, it also exposes you to more risk and volatility, as well as higher fees and taxes.
Buying ETFs gives you indirect exposure to Boeing’s performance and allows you to diversify your portfolio with other companies in the same sector or industry. However, it also dilutes your potential returns and exposes you to fees and expenses charged by the ETF provider.
Some examples of ETFs that include