E-Commerce Stock Watch: E*Trade Announces Another Stock Split

One day after competitor Charles Schwab (NYSE: SCH) announced a 2-for-1 stock split, online broker E*Trade (Nasdaq: EGRP) followed suit on Friday by announcing its own 2-for-1 stock split. E*Trade’s split is expected to be payable after the market closes on May 21st to shareholders of record on May 7th.

What makes this split even more notable is that this is E*Trade’s second stock split of the year. E*Trade also split its stock in January. Despite some recent volatility, E*Trade stock is up about 400 percent this year. Shares of E*Trade climbed 8-1/16 to close at 104-1/16 after the news on Friday. At this rate, E*Trade is on pace to split its stock four times this year. That seems rather unlikely, but nothing is beyond the realm of possibility when it comes to Internet stocks.

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