Schwab shares are trading lower after the company reported July monthly activity metrics. Total client assets grew 3% from June but the company said it was experiencing temporarily lower net flows amid the Ameritrade client conversion.
Portfolio Pulse from Benzinga Newsdesk
Schwab's shares are trading lower following the company's report of July monthly activity metrics. The company reported a 3% growth in total client assets from June, but also noted temporarily lower net flows due to the Ameritrade client conversion.
August 14, 2023 | 5:00 pm
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Schwab's stock is trading lower due to the company's report of lower net flows amid the Ameritrade client conversion, despite a 3% growth in total client assets.
Schwab's stock is trading lower due to the company's report of lower net flows amid the Ameritrade client conversion. This indicates that investors are concerned about the impact of the client conversion on the company's financial performance, despite the reported 3% growth in total client assets.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100