Listed at Euronext in Amsterdam (Stock Symbol: TOM2)
How to Open a Trading Account to Invest in TomTom Shares
Opening an investment account with a stockbroker requires you to:
First, choose the broker that best fits you. Here, we present eToro as the primary choice.
Upload an ID and a proof of address (electricity, water bills, etc.) through the Broker's App or via email.
Whether you open it with eToro or with another broker, make sure to choose the correct base currency of the account. With some brokers, changing it once you open the account can be painful. Trading Accounts are available in US Dollars (USD), Euros (EUR), Pound Sterling (GBP), Swiss Franc (CHF), Australian Dollar (AUD) as the base currency. Practically all of them offer the option in US Dollars or Euros.
Once the Broker has approved the account, it's time to deposit cash. The depositing and withdrawing money methods are usually Credit Cards, Bank Transfers or eWallets (PayPal, PaySafe, Skrill, SafetyPay, Neteller, among others). The available options to deposit funds will depend on each Broker. A vital fact to mention is that all of the Brokers presented above allow you to use a simulator on their platform; that is, they allow testing their Demo account, which is Free. In other words, you can open a Demo account, try the platform, and then decide whether to deposit money or not.
Upon the capital is credited into your credited account, you may now buy the Stock.
Is it easy to invest in TomTom Shares?
Online Brokers allow investing in Shares straightforwardly through optimized apps that grant easy and fast access to financial markets. In fact, most platforms resemble a social network or any other phone app: They are designed so that the investor can learn and start trading very quickly, without the need for much prior knowledge. Literally, to buy shares of TomTom, you have to:
open a trading account as explained before,
Search for "TomTom" on the Broker's Trading platform, and
press the "Buy" button.
And, done, you are officially investing in the co's shares.
How to buy TomTom Shares
Specialising in mapping and navigation products, TomTom BV is a Dutch company that was formed in 1991. The company excels in designing and manufacturing numerous products, including GPS devices and fleet management systems. TomTom has an impressive global presence, with over 50 offices in more than 30 countries. The company released its first product, a navigating car system, in 2001. In 2004, TomTom released the first-ever PND or Personal Navigation Device. TomTom has partnered with several leading car manufacturers to provide built-in navigation solutions for their vehicles. This prestigious list includes Fiat, Renault, Mazda and Toyota.
TomTom stock went public in 2000 on the Amsterdam Stock Exchange. TomTom issued an additional public offering in 2005, raising a total of $740 million. Shares were sold at $27.62 as the company looked to procure funding to fuel its expansion objectives. The stock was in extremely high demand, with the IPO oversubscribed ten times higher than the available shares, according to TomTom executives.
TomTom has come under fire in the past for allegedly selling user information to governments. However, it should be remarked that governments often purchase user information from navigation service providers to better understand driver behaviour, both in terms of infrastructure and law enforcement.