ETRADE Sucks! Message Board

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Pastimes : ETRADE Sucks!

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To: Ken M who wrote (875)	12/3/1997 10:00:00 PM
From: DD™	Read Replies (1) of 3262

Taken from Motley Fool Evening News.. "ETrade Group (Nasdaq: EGRP) (N) (S) lost $2 5/16 to $21 1/4 after information was disseminated that president Christos Cotsakos announced at a Deutsche Morgan Grenfell conference that new account signings slowed in November to an increase of 5%, compared with an increase of 7% in October. In addition, the average number of trades per customer dropped to 1.5 in November from 2.8 in October. This news comes on top of recent reports of fierce price competition in the segment. In early October, ETrade dropped 10% on concerns that its business would be hurt by price cuts from Ameritrade (Nasdaq: AMTD) (N) (S) and Fidelity, and more recently by new low trading fees from Suretrade. Compounding the company's woes are a slew of class action suits filed against online brokerages in the wake of record volume during and following the October 28 market decline -- E*Trade's gift from the lawyers was filed in California Superior Court yesterday. Ameritrade was also down today, falling $4 to $31 1/4."

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