Summary: Bristol Myers Squibb is one of the largest U.S.-based pharmaceutical companies involved in researching and developing drugs used in a number of therapeutic areas, including oncology and HIV. In this guide, you will learn how to buy Bristol Myers Squibb stock by registering an account with a regulated online stock trading platform such as eToro.
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About Bristol Myers Squibb
Bristol Myers Squibb (NYSE: BMY) is a U.S.-based multinational biopharmaceutical company specializing in developing and commercializing innovative pharmaceuticals and therapies for various medical conditions, including cancer, HIV/AIDS, cardiovascular disease, diabetes, etc.
How to buy Bristol Myers Squibb stock: Step-by-step
Bristol Myers Squibb is a public company listed on the New York Stock Exchange under the ticker symbol BMY. It is also an S&P 100 and S&P 500 component, meaning it is among the one hundred largest companies on the stock exchange.
To invest in Bristol Myers Squibb, investors can take the following steps:
Step 1: Choose a regulated brokerage
The first stride towards ensuring the safety and security of your investments involves choosing a regulated stock brokerage.
To buy Bristol Myers Squibb (BMY) stock securely, we recommend:
eToro
- Commission-free trading for stocks and ETFs;
- Access to over 2,000 stocks from 17 different exchanges;
- Fractional shares for flexible investing;
- An intuitive and user-friendly trading platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
There is a large number of platforms available today. So, depending on your investment preferences, you might find that some of them can accommodate your strategy better than others. When comparing and contrasting all the available platforms, consider factors such as:
- Safety and regulatory compliance: Begin by confirming whether the broker is licensed by an impartial and dependable financial regulator;
- Accessibility: Evaluate the accessibility of the platform. That includes assessing whether it offers a mobile app for trading on the go, checking user reviews, playing around with the interface, etc.;
- Commissions and fees: Assess trading commissions, account management fees, and any other potential charges that may apply during or after transactions;
- Account types: Check out what account types are available to determine if the platform caters to your specific needs. Additionally, see if you can make a demo account to test out the platform;
- Customer support: Judge the quality of customer assistance by reviewing feedback from other users and perhaps contacting it yourself;
- Leverage and margin: Some brokers permit customers to leverage borrowed funds (margin) for trading, potentially increasing their profits.
Step 2: Register and fund an account
Once you’ve chosen your broker, you can:
- Register an account: Visit your chosen broker’s website and click on the Register, Start Trading, or Create an Account button. Then, you’ll be prompted to provide some necessary banking and personal information. The process is usually simple, but be prepared to go through a verification process to ensure security as well;
- Fund your account: After successfully registering your account, you can proceed to deposit funds into it. Major online trading platforms like eToro offer multiple funding options, such as bank transfers, credit/debit cards, e-wallets, and external payment processors like PayPal.
Note
Step 3: Place an order
FInally you can start a trade and purchase Bristol Myers Squibb shares by following these easy steps:
- Go to your broker’s page;
- Locate the Bristol Myers Squibb stock (use its ticker symbol [BMY] or look up the company’s name);
- Specify the number of shares you’d like to buy or the desired dollar amount you intend to invest;
- Choose your preferred order type, such as i.e., limit, stop-loss, etc.;
- Carefully review all the order details;
- Execute your trade.
Step 4: Monitor your investment
With Bristol Myers Squibb shares in your investment portfolio, it becomes essential to monitor the performance of your investment. That involves staying informed about things such as the company’s management decisions and strategic initiatives, as well as the evolving landscape of the industry. By consistently educating yourself, you’ll be well-equipped to quickly adapt your investment strategy when needed, increasing your chances of profit in the future.
Note
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Bristol Myers Squibb stock price today
How to invest in stocks safely
Prior to making any investments, it is wise to acquaint yourself with some common investing mistakes to mitigate risks and increase your potential for financial gains. Additionally, remember to:
- Define your investment goals: Before investing, determine your reasons for doing so (e.g., retirement, education, rainy day fund), consider a time horizon of at least three to five years, and assess your risk tolerance and mental readiness for market fluctuations. Investing is inherently risky, so gains are never guaranteed;
- Look for companies with a sustainable competitive advantage: Always seek businesses with a competitive edge that can help them protect market share. You can consider network effects, cost advantages, intangible assets (e.g., patents), and their relation to the sector leadership;
- Understand the basic terminology: Investing in stocks can easily become complicated, especially when people start throwing a bunch of terms around. So, try to familiarize yourself with at least some of the basic terminology used in investing circles, e.g., P/E (Price-to-Earnings) and PEG (Price-to-Earnings-Growth) ratios;
- Stay vigilant: Try not to make any emotional or impulsive decisions. Also, try not to fall for hyped up penny stocks.
Pros and cons of investing in Bristol Myers Squibb
Pros
- The company is well positioned to do well in the oncology sector with its innovative drug Repotrectinib;
- Solid dividend stock;
- The company has been forging strategic partnerships with big players in the industry, such as Samsung Biologics;
- There are plans for new experimental treatments.
Cons
- The company has higher debt levels;
- The stock has been known to underperform the market;
- The company has been involved in some lawsuits.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Bristol Myers Squibb stock
Where to buy Bristol Myers Squibb stock?
To buy Bristol Myers Squibb stock, investors can register an account at a regulated online stock trading platform such as eToro.
Is Bristol Myers Squibb a dividend stock?
Yes, Bristol Myers Squibb is a dividend stock.
Should you invest in Bristol Myers Squibb?
Bristol Myers Squibb can be a solid investment, provided you approach it with the right mindset and understand that investing in stocks is inherently risky. If you choose to invest, be sure you do so through a regulated stock broker and try to diversify your portfolio by investing in some other assets as well.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
