As the stock market and the financial market meltdown is being controlled, there should be pretty good news for E*Trade. E#Trade is one of the stock that took a very severe beating during the financial meltdown on the stock markets. It went down very badly and even now, the stock is nothing compared to its year highs. As this is a battered stock, conventional logic would dictate that this should be a high risk stock to buy. But unless the company were to completely fold down, there isn't much downward risk on this stock. But yes, if the economy were to do better and if the people were to feel the pinch a bit less, then this stock could easily rebound. And then a bounce back to $6.50 levels doesn't seem impossible. This is within the realm of possibility. I am certainly bullish on this stock.
$3.69 (06/14/08)
