Good News re Schwab and Ameritrade (Patreon)
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Hi team
I know many were concerned about the safety of your brokerages and many like myself have accounts at Charles Schwab and Ameritrade. Note Schwab announced its acquisition of TD Ameritrade on November 25, 2019. The acquisition was completed on October 6, 2020, when the two companies officially merged into one entity.
It is a very positive sign to see c-suite and board loading up on a stock. Theyhave the inside scoop and nailed the dip! Unlike those execs at SVB and First Republic that dumped their stock two weeks ahead of the disaster.
Amid the stock’s turmoil on Monday, Bettinger and founder Charles Schwab published a statement to reassure investors.
“Schwab’s longstanding reputation as a safe port in a storm remains intact, driven by record-setting business performance, a conservative balance sheet, a strong liquidity position, and a diversified base of 34 million+ account holders who invest with Schwab every day,” Bettinger and Schwab wrote.
Bettinger backed up his statement on Tuesday, paying $2.97 million to buy 50,000 shares at an average price of $59.31, according to an SEC filing. That same day, Chief Financial Officer Peter Crawford’s trust paid $289,780 for 5,000 shares at an average price of $57.96; director Todd Ricketts paid $567,862 for 10,000 shares at an average price of $56.79; and director John Adams paid $296,550 for 5,000 shares at an average price of $59.31.
Director Stephen Ellis’ trust paid $378,928 for 6,757 shares at an average price of $56.08 on Tuesday, then bought another 34,387 shares for $2 million at an average price of $58.26 on Wednesday.