NEW: Shares of Silicon Valley Bank are halted after tumbling for a second straight day, down 61% in premarket trading.
down 0.41% early Friday after tumbling 5% on Thursday."Current pressures facing SIVB are highly idiosyncratic and should not be viewed as a read-across to other banks," wrote analysts Manan Gosalia and Betsy Graseck with Morgan Stanley in a note Friday.Concern among founders and venture capital investors spiked earlier this week after Silicon Valley Bank surprised the market by announcing late Wednesday it needed to raise $2.25 billion in stock.
The mounting pressures on SVB prompted hedge fund billionaire Bill Ackman to speculate that if private investors can't help shore up confidence in the California lender, a government bailout could be next.could destroy an important long-term driver of the economy as VC-backed companies rely on SVB for loans and holding their operating cash. If private capital can’t provide a solution, a highly dilutive gov’t preferred bailout should be considered.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Silicon Valley Bank spooks Silicon ValleySilicon Valley Bank, long one of the most popular financial institutions among tech and life sciences startups, saw its shares fall more than 60% on Thursday, wiping out a whopping $9.4 billion in market value.
Lire la suite »
Silicon Valley Bank Rocked, Bank Shares PlummetA financial free fall is happening right now in the Bay Area. One of the most trusted local banks is in trouble and now there’s growing concern that some companies are withdrawing their funds, which could spell doom.
Lire la suite »
Silicon Valley Bank shares plunge on stock-sale plan to stem cash burnSVB Financial Group shares plunged more than 62% on Thursday, a day after the lender launched a $1.75 billion share sale to shore up its balance sheet and navigate declining deposits from startups struggling for funds amid increased spending.
Lire la suite »
Silicon Valley Bank slams global shares, US payrolls loomGlobal shares hit a two-month low on Friday as investors dumped banks on fears of contagion after a capital raising at Silicon Valley Bank, with U.S. payrolls figures also a focus ahead of the Federal Reserve meeting later this month.
Lire la suite »
Key startup bank’s shares drop, prompting deeper fears in Silicon ValleySilicon Valley Bank, which serves startups and venture capitalists, lost 60% of its value Thursday after saying it was selling assets and raising money.
Lire la suite »
Bank stocks plunge after implosions at Silicon Valley Bank and SilvergateBank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
Lire la suite »