Silicon Valley Bank sold billions in bonds as startups struggle, crypto-centric Silvergate Bank just gave up
Two tech-centric financial services operations have hit trouble, giving confidence in the sector another kicking.
In mid-February SVB shares sold for $315 apiece. On March 8th they could be had for $265. At the time of writing shares were trading for $105.that SVB sold off $21 billion of securities – and made a $1.8 billion loss on that sale - and took action to raise around $2.25 billion.[PDF] explained that the sell-off and capital raising are essentially precautionary.
That’s bank-speak for “we lent money to startups who are spending it faster than expected, and some of them look like they might not make it because the economy is a mess and investors are out of love with tech”.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Silicon Valley Bank shares tumble after launching stock sale\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Læs mere »
Camilla says she's a Happy Valley fan as she meets Sarah Lancashire at IWD eventThe Queen Consort has revealed she was gripped by crime drama Happy Valley as she celebrated International Women’s Day with its star and a host of inspiring individuals
Læs mere »
Sarah Lancashire meets the Queen Consort and makes Happy Valley admissionThis is the moment Sarah Lancashire met the Queen Consort who appeared to be a big fan of hit BBC show Happy Valley
Læs mere »
The one PC purchase guaranteed to upgrade your gaming rig is just $63Get the ultimate PC gaming setup, no matter what silicon sits in your rig.
Læs mere »
Warner dismantles projects including Disney Dreamlight Valley-style Lego game — reportTT Games has reportedly cancelled numerous projects and halted development on a new Batman game as well as Lego Star Wars: The Skywalker Saga DLC as it focuses on a new Lego Harry Potter project.
Læs mere »
Happy Valley writer headlines Mayor's 'celebration' of womenSally Wainwright is talking about overcoming hurdles at an International Women's Day event in Leeds.
Læs mere »