E-Trade Financial shares surged 25% Friday after a report the online broker is considering selling itself. TD Ameritrade (AMTD) and Charles Schwab (SCHW) , E-Trade's fellow leading online brokers, are possible bidders, but other companies might also be interested, CNBC added.
In the world of instant news gratification, analysts are prophetic. iti Analyst - Prashant Bhatia - downgraded E*Trade for a 15% chance of bankruptcy on November 12, 2007 and E*Trade went 56% down. Not to mention there were other analysts who were not so pessimistic about E*Trade.
Market doesn't like sub prime write downs period. The smart ones who bought the E*Trade at less than half of its value on Nov 12th, must have been drinking their way to thanksgiving when E*Trade went up on Nov 23, 2007 by 26% at the prospect finding buyers in TD Ameritrade, Schwab.
Did we all not wish to buy E*Trade when the market over-reacted. - Source: bitmoney.blogspot.com/
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