E-Trade: Full Trading Circuit Completed
For those of you not keeping track, it's worth noticing that troubled online bank/broker E-Trade has now completed a full 360-degree circuit. After falling 60% last week on an analyst comment that it might face bankruptcy, the company's stock rebounded on the next three trading days, taking it up more than 60%.
This week, however, E-Trade stock has tumbled for two days straight, falling almost 20% today alone on massive volume (in part prodded by a WSJ ad telling customers not to fret). We're now back within spitting distance of last week's lows. In other words, an E-Trade bounce was a fun trade, but the market is back to worrying hard about E-Trade's future as a standalone company.
