Spy--I couldn't agree more with: "besides, at what point do you say, all the bad news are already IN the stock??
man, at $ 15 it's $ 4.3 billion market cap with close to $ 2 BILLION in revenues by yearend.
it was being treated today as if it were radioactive detritus."
It's hard to believe, I agree. The growth potential for E*Trade for the next decade should be enough to give us a market cap much higher than its present level, and I'm frankly astonished that we don't go up when customer acquisition and trading volume skyrocket and when profitability has been achieved, but we plummet when trading volume gets thin (albeit at levels that were considered high just last year!).
I've watched this stock for over 3 years, though, and our current doldrums remind me of where we were at in 1997 and 1998--it moved in a trading range of (split-adjusted) $3-7, before rocketing as high as $72 (wasn't it?) in April of 1999. It may be a while before we return to the high, but I'm confident that we'll get their in due time. This is a company still in its infancy in many ways, and while no one knows where it will be next month, I'm quite confident that I know where it will be in five years... |
