E*Trade's goal line stand

Posted Jan 30th 2008 1:04PM by Zack Miller
Filed under: Products and Services, Marketing and Advertising

As investors from around the world gear up for some Super Bowl fun and excitement, one firm is hoping to score a touchdown from the hype surrounding the world's most watched football

E*Trade (NASDAQ: ETFC), the beleaguered online broker, plans to spend as much as $4 million for two ads airing during this weekend's Super Bowl.

Is this just some more post-boom, sock puppet lunacy?

Maybe, but today's Wall Street Journal article doesn't think so. As the troubled broker tries to re-cement its image and reputation, the article claims that "the Super Bowl distraction couldn't come at a better time."

As I wrote recently, billion-dollar losses due to exposure to investments-gone-bad in mortgages and home equity loans have prompted the firm to seriously turnaround the company. After receiving an infusion of cash from a leading hedge fund and ousting its CEO, investors are betting the company can turn itself around. The stock is up 18% since the company reported earnings last week.

Who are you betting wins the Super Bowl?

Could be that E*Trade is the true winner.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund.

Tags: e*trade, etfc, inthenews, super bowl, SuperBowl