ETrade Bankruptcy may be on the horizon. ETrade on Friday announced that the value of its holdings of securities that are backed by mortgages have fallen in a significant manner. Due to this loss in value the company will have to have write downs in their 4th quarter that will be a lot larger than expected.
Will this cause an ETrade Bankruptcy? Not likely at this point. The companies stock did take a huge plunge in morning trading of more than 30% of its value. The company still has strong financial backing but it is going to definitely hurt the company. If these declines continue an ETrade bankruptcy may become more and more like a good possibility. The stock can only go down so far before it is deemed worthless.
We will continue to follow the ETrade Bankruptcy rumors as well as follow the stock news associated with the company. We will provide any breaking news updates regarding this story.
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