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Schwab Fee Cuts Trigger Online Broker Bloodbath: Video Presentation

TedTed
in Fund Discussions
FYI: Charles Schwab Corp. announced plans to eliminate commissions for U.S. stocks, exchange traded funds and options, triggering a selloff in shares of competing online brokerages
Regards,
Ted
https://www.bloomberg.com/news/videos/2019-10-01/schwab-fee-cuts-trigger-online-broker-bloodbath-video

Comments

  • hank
    edited October 2019
    Bloomberg’s all over this. Horrific day for the brokerage stocks. One dropped 25% today alone. Reminiscent of the Detroit area gas wars of the 70s when you had four different brands on every corner and they’d dog it out, undercutting one another down to as low as 15 or 20 cents a gallon. Sweet while it lasted.
  • rforno
    Earlier this evening TDA just cut fees to match Schwab's move.
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