Bad Trade for ETrade
How DIRE is it for ETrade Financial Group, ETFC, with their stock tanking today by nearly 50%.
Our friends at BlogginStocks report that Bankruptcy may be in sight. As with the whole mortgage market, no one knows what the impact may be. If a company has in any way been involved in the mortage market, there most likely is a risk. All he number crunchers have been working profusely to peg the impact.
The initial estimate is $1 billion loss creating almost a $2 billion drop in market cap. What is going to be left if the company has another $1 billion loss? There is only 1.65 billion left in market cap. Also many investors must be wondering why are they in the mortgage market? Only time will and Money will tell what the outcome will bring.
