Summary: It’s not possible to buy Discord stock, as it’s still a privately held company. However, it’s still possible to invest in similar social network stocks through a reputable broker platform like eToro.
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Discord is a popular communication platform designed for creating communities. It offers text, voice, and video chat features, making it a go-to choice for gamers, hobbyists, and various interest groups. With millions of active users, Discord has become a prominent player in the social networking space.
Pre-IPO investing
Note
At this point, Discord still isn’t a publicly traded company. This means that you won’t find its stock available on the stock market, and it doesn’t have a ticker symbol.
However, some investors have the opportunity to invest in companies before they go public. This typically involves being an accredited investor or having connections to venture capitalists and private equity firms. If you have access to such opportunities, you may be able to purchase Discord stock before it becomes available to the general public.
Top 3 social network stocks as alternatives
If you’re interested in social network stocks and pre-IPO investing in Discord isn’t an option, here are three alternatives to consider:
- Meta Platforms (NASDAQ: META);
- Alphabet (NASDAQ: GOOGL);
- Snap (NASDAQ: SNAP).
Meta Platforms
Meta Platforms is a tech conglomerate known for its flagship social networking platform, Facebook. It has expanded its reach by acquiring Instagram and WhatsApp, making it a dominant force in the social media landscape. Meta is also investing heavily in virtual reality and the metaverse, aiming to reshape the future of online interaction.
Meta stock price today
Your capital is at risk.
Alphabet
The parent company of Google, Alphabet operates the world’s largest search engine and owns the popular video-sharing platform, YouTube. Google’s social network attempt, Google+, was discontinued, but the company remains influential in the digital realm, providing advertising and data services integral to the online ecosystem.
GOOGL stock price today
Your capital is at risk.
Snap
Snap Inc. is the company behind Snapchat, a multimedia messaging app recognized for its ephemeral photo and video sharing. The app has diversified its offerings by introducing features like Stories and Discover, making it a go-to platform for short-form content and real-time communication, particularly among younger users.
SNAP stock price today
Your capital is at risk.
How to buy social network stocks: Step-by-step
Now, let’s get into the nitty-gritty of how to buy social network stocks, assuming one of the alternatives has piqued your interest.
Step 1: Choose a brokerage
The first step is to choose a brokerage platform. Brokerages act as intermediaries between you and the stock market, facilitating the buying and selling of stocks. Here’s what to consider when selecting a brokerage:
- Fees;
- User-friendliness;
- Research tools;
- Customer support;
- License.
With these factors in mind, our go-to brokerage for buying social network stocks is eToro, a FinCEN-licensed and widely popular platform with over 30 million registered accounts that offers a host of solid features for all kinds of investors, such as:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- The option to purchase fractional shares;
- A user-friendly platform that simplifies the trading experience.
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.
Step 2: Fund your account
After picking a brokerage, you’ll need to fund your brokerage account. This typically involves linking your bank account and transferring funds. However, different brokerages may have varying deposit minimums, so check the requirements before proceeding.
Step 3: Place your trade
With your account funded, you’re ready to place your order. Here are some of the types of orders you can use:
- Market order: This order type buys the stock at the current market price. It’s simple but doesn’t guarantee a specific price;
- Limit order: With a limit order, you specify the maximum price you’re willing to pay for the stock. Still, it may not execute if the stock price doesn’t reach your limit;
- Stop order: A stop order becomes a market order once the stock reaches a certain price. It’s often used to limit potential losses.
Note
Finally, after placing your order, you should monitor your investments and stay informed about market trends and news that might affect your chosen social network stock.
Pros and cons of investing in social network stocks
Before you jump into investing, it’s essential to weigh the pros and cons of investing in social network stocks.
Pros
- Potential for growth: Social network stocks have shown substantial growth in the past, driven by increasing user bases and advertising revenue;
- Diversification: Investing in social media companies can diversify your portfolio, reducing risk;
- Access to tech trends: Social media platforms are at the forefront of technological innovations, offering exposure to emerging trends.
Cons
- Market volatility: The stock prices of social network companies can be highly volatile, leading to potential losses;
- Regulatory risks: Social media companies face regulatory scrutiny, which can impact their operations and stock prices;
- Competition: The social networking space is competitive, and companies must constantly innovate to maintain their user bases.
Common mistakes to avoid when investing in stocks
Investing in stocks, including social network stocks, can be rewarding, but it’s essential to avoid common mistakes and pitfalls. Some of these include:
- Lack of research: Invest time in researching the companies you’re interested in and their financial health;
- Overtrading: Avoid excessive buying and selling, as it can lead to high fees and reduced returns;
- Ignoring diversification: Don’t put all your money into a single stock or sector. Diversify your investments to spread risk;
- Emotional trading: Emotional decisions can lead to impulsive buying or selling. So, stick to a well-thought-out strategy.
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 Discord stock
Can I buy Discord stock now?
Discord isn’t a publicly traded company, which means its shares aren’t available on the stock market, thus you can’t invest in it. Keep in mind that at some point in the future, this may change, and you might be able to buy Discord stock.
What's the best social network stock to invest in?
The best social network stock for you depends on your investment goals and risk tolerance. Consider factors like the company’s financial health, growth potential, and your own research before making a decision.
How much money do I need to start investing in social network stocks?
The amount you need to start investing varies depending on the brokerage platform you choose. Some brokerages have no minimum deposit requirements, while others may require a certain amount to open an account.
Are social network stocks a good long-term investment?
Social network stocks can be a good long-term investment if you believe in the growth potential of the companies, and you acknowledge the associated risks. Nevertheless, it’s essential to have a diversified portfolio to mitigate risk.
Can I buy Discord stock directly from the company?
No, you can’t buy Discord stock directly from the company, as it’s still privately held. However, you can seek other AI-related investment options like Meta, Alphabet, and Snap.
When will Discord have an IPO?
There are still no plans for Discord to go public. However, this might change at some point in the future, so you should follow relevant news and reports and prepare yourself for investing in the company when the time comes.
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.
