Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : ETRADE Sucks! -- Ignore unavailable to you. Want to Upgrade?

To: Ken M who wrote (875)	12/3/1997 10:00:00 PM
From: DD™	Read Replies (1) \| Respond to 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."