Stock Watch: [email protected] Offers Security for Documents

Online bank [email protected] (Nasdaq: NTBK) is bringing the safe deposit box, a staple of brick-and-mortar, banks online. On Monday, [email protected] announced that it is offering its customers a new Web-based safe deposit box service for storing valuable and confidential electronic documents. It remains to be seen whether customers will really trust Internet security enough to put important documents on somebody else’s service, but [email protected] saw a nice gain in its stock price on Monday.

Shares of [email protected] climbed 3-11/16 to 33-5/16. On Monday, Pacific Crest Securities initiated coverage of [email protected] with a strong buy rating.

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