Wall Street Keeps Defending Crypto Bank Silvergate as Its Stock Crumbles.
Crypto bank
Silvergate Capital
‘s stock has collapsed by 82% this year, wiping out nearly $4 billion in market cap. But you wouldn’t know it on Wall Street, where most analysts continue to rate it a “Buy.”
Shares in Silvergate (ticker: SI) have been hammered by the contagion spreading through crypto due to the bankruptcy of FTX. Silvergate’s stock has lost more than half its value in the last month alone, including an 11% decline on Monday.
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