How to Buy General Dynamics Stock on the Open Market
GD is the stock symbol for General Dynamics, a major aerospace and defense contractor. GD stock can be purchased like any other publicly traded company. In early 2010, GD was trading between $65 and $70 per share.
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Instructions
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Open an online brokerage account with one of the major online brokers, if you do not already have one. An account application can be completed online. The link below shows the SmartMoney 2009 Broker Survey listing the magazine's top choices for online brokers.
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Determine how many shares of GD you want to buy. Stock is usually purchased in round lots of 100 shares, but it is not a problem if you want to buy an odd lot number. The online brokers will accept orders for any amount of shares.
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Use the broker's online order entry screen to place a buy order for the number of shares you want of GD. Place the order as a "Market" order so it is filled immediately at the current market price. The broker's website will ask for a final confirmation of the order: check the stock symbol, number of shares and total cost before confirming the order.
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You have two business days to pay for the GD stock you have purchased. The funds can be wired to the broker as directed on the site. If you have any questions, use the customer service number to call the online broker.
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Tips & Warnings
You can put money into a brokerage account before making any stock trades. It may be easier to deposit first and not be rushed to fund a purchase within the two days.
Stock purchase commissions range from $5 to $20 for the various online brokers, check out rates before selecting a broker.
If you do not plan to buy anymore stock, look for a broker who does not charge for inactive accounts.
You can make this purchase the old-fashioned way with a regular broker.
Online brokers hold the stock in street name with the shares credited to your account. If you want stock certificates in your name, contact the broker, and be prepared for a significant extra fee.
General Dynamics is a large stable company with good prospects, but even good stocks can lose value. In the bear market of 2008-2009, GD fell as low as $37 per share.
