United States Steel Corporation (NYSE: X) has unexpectedly been labelled a meme stock in the last 24 hours.
Since United States Steel has become a meme stock, and the potential for a price surge becomes an increasingly feasible possibility, we thought it would be helpful to release an article detailing the crucial things to know about the company before investing.
Scroll down to get things started by finding out the two best places to buy United States Steel Corp. stock in the UK and elsewhere.
Where to buy United States Steel shares
If you want to invest in US Steel stock, simply choose an online stockbroker – preferably with low fees – sign up, deposit funds and purchase shares.
You can find our two top platforms below:
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What is United States Steel?
Founded all the way back in 1901 by Andrew Carnegie, J. P. Morgan, Charles M. Schwab, William Henry Moore, and Elbert Henry Gary, and based in Pittsburgh, US Steel is an American integrated steel producer with operations spread across North America and Europe.
The company produces around $10 billion in revenue per annum, making it a significant steel player in the global landscape.
Now, this long-established company has been targeted by Reddit community, WallStreetBets, a group synonymous with seeking out heavily-shorted stocks and causing them to surge in value at a rapid pace.
Should I buy United States Steel stock today?
If you buy into the steel macro story and expect a resurgence in demand following COVID-19 national lockdowns, now could be a good time to consider investing.
In addition, if you expect WallStreetBets to work its magic and generate a dramatic upwards price swing, X may be a good stock to be involved in.
The company has had a difficult 5 years, but 2021 has been a year of solid 226% growth for the company. Now, backed by Reddit investors, it could be about to surge to new heights.
Before you invest, just make sure you temper this excitement with a degree of pragmatism because just as quickly as artificial market forces can drive an asset’s value up, they can level it to the ground.