Monday, November 12, 2007

ETrade to at Risk of Becoming Bankrupt?


Online Brokerage Etrade reported today that it can absorb a write down of up th 1 billiob dollars. Etrade stock fell to their lowest, since 2003. At the End of the closing day the stock fell to $3.55 amid credit fears stemmed from sub prime loans. Financial stocks have been taking a beating for the third quarter and Etrade is just another stock that taking a beating after it was downgradedby an analyst at Citigroup.

According to CNBC, Citi group Analyst Prashant A. Bhatia cut his rating on the stock, and said that their is a 15 percent chance that the company would file for bankruptcy. Etrade on the other hand is stating that it is able to adapt to shifting market trends.

1 Comment:

Tai said...

If you've continued to follow this story you might enjoy this video with the chimp from those Super Bowl ads - http://youtube.com/watch?v=6uSL1rilsWg