With us making a ton of money on the float how is our stock just cratering? We were at $110 now below $90. Complete mismanagement at the top. We should be printing money with interest rates where they are. Plus the constant market movement of late should be curning portfolios which generate income as well. Anyone in the know?
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Lol not to be an a--hole, but do you know what you're talking about? Rising rates are bad for Schwab's revenue...I'd suggest looking into what Net Interest Revenue is (which accounts for the vast majority of revenue)
@w9 You must not be in STS. Lost quarters of knowledge and performant capacity leading to late and over budget projects. When so many cuts are political or ageist it is hard to think anyone is actually looking at the bench and the talent.
@jx LOL we ain't missing anyone laid off 2 years ago
What do you expect when the infrastructure is run on mainframes? The market understands that Schwab is too far behind to catch up. It is downhill from here!
“The people in the know” AKA “Insiders” can’t sell the stock fast enough. That is all you need to know.
Best news I’ve heard all week! I hope it goes to zero. Many of us are still struggling after the massive layoff two years ago when you recklessly laid off many of your best employees! I guess this would be called karma. For all the losers that will comment on this well you must not have the skills, education etc. No that’s not the case at all. You’d have to be in our shoes looking for jobs the past two years to understand the job market.
The stock was up on buybacks. We still have some, but not at the same level. Then concerns about AI and interest rates.
It's all because of schwab being behind the times with AI and an aging out-of-date trading app, that's all it is. I don't think Rick is being totally forthcoming on his reasoning during the update where "it's falling because of our cash sweeps are at risk of ai optimization".