Q:

How do you buy Rite Aid stock?

A:

Quick Answer

Rite Aid Corporation is traded as RAD on the New York Stock Exchange, reports Nasdaq, but you need to contact a brokerage firm to assist you with trading in its stock, according to CNN Money. Direct stock purchases are not available, according to the company's website.

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Full Answer

Before choosing a brokerage firm, decide on the type of investment assistance you need and how much you wish to spend in fees, advises CNN Money. A full-service brokerage house provides the most comprehensive investment advice, but it's also the most expensive, typically charging a commission of a percentage of the purchase price. Discount brokerage firms, which provide limited guidance, typically charge a flat fee between $4 and $20 for trades of less than 1,000 shares, as of 2015. Online brokerage firms provide interactive tools to research companies and compare stock prices over time. These firms usually charge between $5 and $15 per trade, and some offer free services for a limited time.

After choosing a broker, next decide how you want to buy the stock, as CNN Money explains. Placing a market order tells your broker that you want to buy the stock at the prevailing price, while placing a limit order specifies the price you want to pay. When the stock reaches that price, the broker automatically buys the specified amount of stock. Limit orders may have a time limit or last indefinitely. A stop-loss order instructs your broker to sell the stock if it falls below a certain price.

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