E*TRADE Financial Corp (NASDAQ: ETFC)
E*TRADE Financial Corp started the day off heading downward and the movement has continued for most of the day. The reason for the declines… the company may be considering an asset purchase. Today, we’ll talk about what we’re seeing in the market, the possible asset purchase, and what’s next for ETFC.
Trade smarter and make more money with Tradespoon!
ETFC Falls On Possible Asset Purchase
As mentioned above, E*TRADE may be considering a relatively large asset purchase, and that’s causing some concern among investors. As a result, today hasn’t been the best day in the market for the stock. Currently (12:43), ETFC is trading at $28.95 per share after a loss of $0.55 per share or 1.86%. Unfortunately, the trend seems to be continuing downward.
Why We’re Seeing The Drop
The declines are largely being caused by rumors that ETFC may be considering a relatively large asset purchase. The rumor is that following the TD Ameritrade acquisition of Scottrade, E*TRADE is looking into its own big asset purchase. In fact, there are rumors surfacing that the company is looking into the possible purchase of LPL Financial.
What We Can Expect To See Ahead
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from ETFC. While the company may be considering an asset purchase, and these types of things will concern investors, I’m all for it. If ETFC can get a good price on the acquisition, it will add quite a bit of value for investors. On top of that, E*TRADE has been running upward in the market for some time now for good reason. A little asset purchase spook isn’t likely to stop the long term upward movement on ETFC.
Don’t waste your time! Click here to find winning trades in minutes!
Never Miss The News Again!
Want news delivered to you quickly that allows you to take action in the market? Join our mailing list below! (FREE For A Limited Time Only!)
[Image Courtesy of Wikimedia]