Trades suspended in the stock shaking the market
Shares of SVB Financial Group, known as Silicon Valley Bank, also fell for its second day on Friday.
US bank SVB Finance Group continued its hard loss, falling 50 percent once again in the futures market as some leading venture capital investors advised companies to withdraw their money from SVB.
Shares fell 80 percent after the Santa Clara, California-based bank announced a $2.25 billion surprise capital increase to cover serious losses in its investment positions.
After the loss, the transactions in the stock were suspended.
After the sales to the SVB, sharp losses were observed in US banks, with the biggest daily drop in almost three years on Thursday.
Hours after SVB CEO Greg Becker urged clients to “keep calm” in a teleconference call, leading venture capital firm, including Peter Thiel’s Founders Fund, is advising portfolio management firms to withdraw their funds as a precaution. had been found.
“We believe there is too much uncertainty to recommend the stock to investors, with the risk growing with the accelerating deposit outflow,” Truist analyst Brandon King said in a note.
