It’s been a great week for new investors in E*Trade Financial Corporation (NASDAQ:ETFC)

The stock enjoyed a 32% gain on the week - led mostly by announcements that the directors of the company had purchased $1.9M worth of stock, at an average price of $4.09. This news was quickly followed by an annoucement that E*Trade will be airing two 30 seconds advertisments during this weekend’s airing of the super bowl.

I’ve been following E*Trade since november now, and am still quite confident in this company and this stock. Some quick calculations will tell you that the book value of E*Trade is currently roughly $6.18 / share ($2.829B in assets / 460.90M shares outstanding), yet the stock has been trading at as low as $2.05 earlier this month. That’s roughly a 23% discount to it’s book value!

Not only that, E*Trade has been making great progress in their turnaround plan for the company. They have strategically unveiled their advertisments that will be played during the super-bowl this weekend. For a sneak peak; view below. For a more in-depth take on this stock, check out my Weekly Pick: E*Trade Financial Corporation (NASDAQ: ETFC)

Click here to view E*Trade Ads on YouTube

I am long E*Trade.

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Tags: E*Trade Financial Corporation, ETFC, insider buys, super bowl ads

This entry was posted on Saturday, February 2nd, 2008 at 3:13 pm and is filed under Business News, Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.