Several mistakes were made by the attackers on Etrade
1) Using a guy by the name like Bhatia Prasha stirred some very patriotic feelings towards the company especially when its being done by a large stake holder like Saudi Arabias Prince in Citi. These are sensitive times towards certain extremists both in business war and real war on terror.
2)Companies like Schwab decided to make it a non marginable security.
Big mistake. I was with Schwab for a very long time and had a large position in Etrade, and did not even have it on margin. However watching the stock go down plus Schwab trying for force people to cover margin must have made some clients very pissed off. In Fact I transfered all of my holding to Etrade due to their act. i wonder how many more people did that who are active traders.
3) Americans love underdogs. Weather its in Football rooting for the Giants, or the puking baby on Etrade ad. That is why one of the journalists stated that etrade survived not because of their strategy with Citadel, but because of the customers and overall good hearted people.
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Stumble It!
February 10th, 2008 at 7:47 pm
Their are alot of stocks that have fallen ndue to reckless analysts spreading fear with shareholders. They downgrade on a whime and other analyst fallow. Etrade ETFC is a stock that is extremely undervalued it’s valued at $12-$15 but due to a reckless analyst from citigroup it sent this stock to $2. Currently its stock price is $5.17 and I will continue to buy. I plan on buying 6000 shares next week to bring my total shares to 34,000. There are alot of rumors that Etrade will be acquired in the next month do to it’s share price. If they are acquired I anticipate a $12-$16 offer price per share. Please thank citigroup for giving us this Gift.
Dan Blue