Advertisement
Australia markets open in 11 minutes
  • ALL ORDS

    7,937.90
    +35.90 (+0.45%)
     
  • AUD/USD

    0.6486
    -0.0003 (-0.04%)
     
  • ASX 200

    7,683.50
    +34.30 (+0.45%)
     
  • OIL

    83.50
    +0.14 (+0.17%)
     
  • GOLD

    2,336.50
    -5.60 (-0.24%)
     
  • Bitcoin AUD

    102,390.71
    -747.25 (-0.72%)
     
  • CMC Crypto 200

    1,429.09
    +14.33 (+1.01%)
     

Why Silvergate Capital Stock Gained 10% on Wednesday

Why Silvergate Capital Stock Gained 10% on Wednesday

Shares of Silvergate Capital (NYSE: SI) had gained 10.1% as of 3:05 p.m. ET on heavy trading volume. The jump was a welcome respite from Silvergate's plunging price trend in recent weeks, as the crypto-friendly bank was hit by fallout from the FXT crypto exchange's financial meltdown. FTX-related concerns drove Silvergate's stock 26% lower between Nov. 7 and Tuesday's closing bell.