SuperCourse
Make Asylums Great Again
- Credits
- 33
SVB Financial, which owns Silicon Valley Bank, the 16th largest bank in the US with $210 billion in assets, came out with some fascinating announcements late yesterday and early today about shoring up its balance sheet and liquidity.
After having already plunged 65% in a series of breath-taking dives, and dead-cat bounces from their startup-and-crypto consensual-hallucination peak in November 2021, shares of SVB Financial [SIVB] kathoomphed so far today another 55%, to around $119 at the moment, the lowest since 2016, and are now down 84% from the November 2021 high, thereby getting inducted into my pantheon of Imploded Stocks. [Update: SIVB closed at $106, -60%; now trading at $83 afterhours, -69% in total for the day; that was fast!].
The 84% plunge from the high already exceeds SVB’s Dotcom Bust plunge of 77% from September 2000 through October 2022 (my discussion in July of this SVB phenomenon) The Dotcom Bust was a horrible creature for Silicon Valley, and SVB Financial is another indication that this current bust – we still have to come up with an appropriate name – promises to outdo the Dotcom Bust.
106.04
USD▼ -161.79 (-60.41%) today
Uh-oh.
After having already plunged 65% in a series of breath-taking dives, and dead-cat bounces from their startup-and-crypto consensual-hallucination peak in November 2021, shares of SVB Financial [SIVB] kathoomphed so far today another 55%, to around $119 at the moment, the lowest since 2016, and are now down 84% from the November 2021 high, thereby getting inducted into my pantheon of Imploded Stocks. [Update: SIVB closed at $106, -60%; now trading at $83 afterhours, -69% in total for the day; that was fast!].
The 84% plunge from the high already exceeds SVB’s Dotcom Bust plunge of 77% from September 2000 through October 2022 (my discussion in July of this SVB phenomenon) The Dotcom Bust was a horrible creature for Silicon Valley, and SVB Financial is another indication that this current bust – we still have to come up with an appropriate name – promises to outdo the Dotcom Bust.
106.04
USD▼ -161.79 (-60.41%) today
SVB Financial/Silicon Valley Bank Shares Collapse 55% Today, 84% from Consensual Hallucination Peak, as it Shores Up Balance Sheet & Liquidity to Face the Future
SVB is massively involved in all segments of the startup scene that is now facing a mass extinction event.
wolfstreet.com
Uh-oh.
is in the White House, 
