, stoking fears of a bank run. Shares of the firm tanked 60% Thursday, and they're down another 40%-plus in high-volume off-hours trading Friday morning. The bank has been around for four decades, providing support for tech startups even as the industry has gone through ups and downs. This time looks different, though. SVB sent investors running for the hills this week after it sold off $21 billion in holdings at a loss of about $1.8 billion.
Venture activity had already declined, the IPO market has largely dried up, and now the Fed's rate hikes are putting an even bigger squeeze on the high-risk world of tech finance. Client funds are dwindling rapidly, too. "Psychologically, it's a blow because everyone realizes how fragile things can be," Scott Orn, operating chief at Kruze Consulting, told CNBC.
Somedays stocks are future priced and today we are priced based on history... so its a hustle
Today is a good day 😁
6. Duck and Cover!
All medias sell panic and fear while organizations are buying all. Manipulation but bullish . Always