Online trading platform reviews. First Republic stock has nearly doubled in four hours: here’s why

Shares of First Republic Bank (NYSE: FRC) have almost doubled in recent hours following reports that a group of big banks are in talks to grant aid to their regional peer.

First Republic could soon see a boost to liquidity

On Thursday, anonymous sources told CNBC’s David Faber that Morgan Stanley, Goldman Sachs, Citigroup, JPMorgan, and others may deposit between $20 billion and $30 billion in First Republic to deliver it from the ongoing turmoil.

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The deposits will significantly add to the liquidity of the full-service bank that reported nearly $1.7 billion in net income last year. The said deal, though, is not done just yet.

Sources also confirmed that the aid does not signal a potential acquisition. Versus its year-to-date high, First Republic stock is still down close to 75%.

What spurred the crash in First Republic stock?

The sell-off followed the recent collapse of Silicon Valley Bank and Signature Bank (source). Since First Republic has a lot of uninsured deposits much like those two, investors feared that its outflows could also grow sharply in the coming weeks.

To that end, the regional bank confirmed over the weekend that it had over $70 billion in liquidity, excluding additional funds it could tap into from the U.S. Federal Reserve. But that wasn’t sufficient for the shareholders to not dump this bank stock.

The wealth management company started the year with more than $212 billion of assets. Earlier this week, Cerity Partners’ Jim Lebenthal dubbed it a good bank as he revealed to have bought First Republic stock on CNBC’s “Halftime Report”.

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Here are reviews of some popular online trading platforms:

Robinhood: Robinhood is a well-known commission-free trading platform popular among beginner investors. It offers a user-friendly mobile app and web platform, making it easy to buy and sell stocks, ETFs, options, and cryptocurrencies. However, Robinhood has faced criticism for limited customer support and occasional outages during high market volatility.
TD Ameritrade: TD Ameritrade is a widely used platform known for its powerful and feature-rich thinkorswim platform. It offers a wide range of investment products, including stocks, options, ETFs, mutual funds, and futures. TD Ameritrade provides educational resources and has strong customer support. In 2020, TD Ameritrade was acquired by Charles Schwab, and the two platforms are in the process of merging.
ETRADE: ETRADE is a well-established platform offering a variety of investment products. It provides a user-friendly interface and a range of research and educational tools. ETRADE offers commission-free trading for stocks, ETFs, and options. In 2020, ETRADE was also acquired by Morgan Stanley, and integration with Morgan Stanley's services is underway.
Fidelity: Fidelity is a reputable brokerage platform with a long-standing history. It offers a wide range of investment options, including stocks, options, ETFs, mutual funds, and fixed income products. Fidelity provides extensive research and educational resources, along with excellent customer service. They have also introduced commission-free trading for stocks, ETFs, and options.
Interactive Brokers: Interactive Brokers is a popular platform among active traders and professionals. It offers a comprehensive suite of tools and advanced trading features. Interactive Brokers provides access to a wide range of investment products and global markets, along with competitive pricing. It's known for its robust trading platform and in-depth research tools.