E*Trade Tries To Instill Confidence, Fails
E*Trade (ETFC) finally said something about its financial condition, apparently in attempt to 1) reassure customers, and 2) stop its stock's persistent slide toward zero. Unfortunately, what it said was confusing, and it didn't say enough.
The quote:
"Since the November 29 announcement of the cash infusion, customer cash trends have shown significant improvement. As of this week, retail customer cash and deposit balances totaled approximately $33 billion, a number consistent with levels disclosed at the time of the announcement."
Now, maybe it's just us, but those two sentences seem to contradict each other. The first seems to say that things have improved since the Citadel bail-out. The second seems to say that they haven't changed. So which is it?
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Silicon Valley Insider | Henry Blodget | December 21, 2007 11:30 AM