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The U.S. Federal Reserve announced Thursday it was ordering Silvergate Bank to implement its previously announced plan to liquidate itself in a way that protects depositors and preserves its funds.
Before you jump into a hasty trade with Silvergate Capital (NYSE: SI ) stock, think carefully and consider the risks involved. Silvergate Capital is an unsuccessful bank that may be in its final stages of existence.
In the latest trading session, Silvergate Capital Corporation (SI) closed at $1.62, marking no change from the previous day.
Silvergate Capital (NYSE: SI ) stock is on the rise Tuesday as a potential short squeeze rally boils behind the scenes. Traders have been hoping for a short squeeze rally that could send shares of SI rocketing higher.
Short squeeze stocks are the talk of Wall Street at the moment. As the banking crisis continues to unfold, some investors are seeking refuge by betting against many well-known losers — and reaping tremendous gains.
Although deeply embattled, crypto-friendly bank Silvergate Capital (NYSE: SI ) is managing to pop conspicuously higher against an otherwise soft opener for the last week of March. Up almost 15% in afternoon trading, SI stock may become the next big short-squeeze opportunity.
A MicroStrategy subsidiary fully repaid a term loan that was collateralized by Bitcoin. Investors may view the news as positive for the bank's planned liquidation.
Shares of Silvergate Capital Corp. SI, +52.21% climbed 18% in premarket trading on Monday, in step with a rise for most banking shares following news that failed Silicon Valley Bank has found a buyer. Silvergate Capital is in the process of winding down operations at its subsidiary, Silvergate Bank, a crypto-friendly institution that got caught up in losses and troubles for the cryptocurrency market in recent months.
As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from some regional banks.
Many bank stocks are falling today, but one unexpected name is skyrocketing. Silvergate Capital (NYSE: SI ), a former top bank for the crypto sector, announced two weeks ago that it would be shutting down operations.