Posted:
#1
opened friday @ 2.85 and took off to a spike high of 3.35 in the first 20 mins. currently trading between 3.10 and 3.20. 1st hour volume 28 millon+ 
ETFC part deux
Views: 176
Posts: 7
Posted:
#3
I'm sure that's the cause of the "action". when it first got clipped in Novemeber, it bottomed @ about 3.51 then spiked back to 6+. then it really got drilled down to a low of 2.02 on the open last tuesday.
who knows where it goes from here BUT I'm sure it's down around "salvage value'.
one thing, though. the CFC speculators that ran the stock yesterday on the B of A rumor got HOSED when the pricing news came out friday
Posted:
#4
I dont personally see a broker who would want to buy ETFC..
They sold most of their mortgage biz for a huge loss, clients are leaving, they are selling their institutional business..
What is left to buy really? Broker assets? AMTD and SCHW arent going to pay top dollar for broker assets and a TON of debt..
They sold most of their mortgage biz for a huge loss, clients are leaving, they are selling their institutional business..
What is left to buy really? Broker assets? AMTD and SCHW arent going to pay top dollar for broker assets and a TON of debt..
Posted:
#5
Wirehouses pay brokers top dollar all the time in the form of upfront bonuses to move. Most of the time there is no guarantee what we will bring over when we move and there is little verification of what we really have asset wise in our book.
Don't give the brokerage firms undo credit for being all that intelligent about "paying for assets."
Many a half-assed broker has laughed all the way to the bank at a brokerage firm's expense.
Posted:
#6
Look at the balance sheet for ETFC and you will see what I mean. Add that if you buy the company you also owe on preferred shares and convertible debt which might have a clause in it.
Ameritrade already said they had no interest in buying the company as a whole and Etrade recently said that they were divesting of their institutional trading group, which was one of their most profitable.
I have many friends from Fidelity days that work at ETrade, and I just dont see how they get bought out. Maybe they survive but I dont see a buyout.
Anyone see the cash deal they did to surive liquidity needs? Man that was ugly ugly ugly...
Ameritrade already said they had no interest in buying the company as a whole and Etrade recently said that they were divesting of their institutional trading group, which was one of their most profitable.
I have many friends from Fidelity days that work at ETrade, and I just dont see how they get bought out. Maybe they survive but I dont see a buyout.
Anyone see the cash deal they did to surive liquidity needs? Man that was ugly ugly ugly...
Posted:
#7
Quote Originally Posted by accventures:
Wirehouses pay brokers top dollar all the time in the form of upfront bonuses to move. Most of the time there is no guarantee what we will bring over when we move and there is little verification of what we really have asset wise in our book.
Don't give the brokerage firms undo credit for being all that intelligent about "paying for assets."
Many a half-assed broker has laughed all the way to the bank at a brokerage firm's expense.
yes they do pay us top dollar to move
215% of last years production gross is the going rate
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