Shares of E-Trade Financial Corp. soared Tuesday after the online brokerage and banking firm said that it "remains optimistic" about its chances to get a large capital injection from the Treasury Department.
E-Trade applied for $800 million under the Treasury's Capital Purchase Program on Nov. 7, when its shares were trading at $1.71. As time passed without word of a response, its share price plunged, to a low of 88 cents Monday.
In a press release Tuesday, the New York company said that it "continues to work constructively with regulators through each phase of the application."
In heavy trading, E-Trade's shares closed at $1.32, up 50%.
