Silvergate Closes January with 72.57% of its Shares Shorted, reports Short Interest
Key Points: Silvergate Capital Corp., a crypto bank, is the second-most-shorted American company, with 72.57% shorted.
Silvergate stock (SI), has fallen nearly 88% since it revealed a relationship to insolvent companies FTX, Alameda Research, and Alameda Research.
According to the most recent Short Income Reporting, Silvergate Capital Corp., a cryptocurrency bank, is the second-most-shorted US stock, with more 72.5% of its shares float shorter than the average. A short position is when investors and traders anticipate that the stock’s price will fall. A short seller is one who earns from the price of a security falling. Silvergate stock (SI), has fallen nearly 88% in the past year as of the writing. Silvergate’s negative sentiment stems from its recent financial reports as well as legal challenges regarding its relationship to insolvent enterprises FTX, and Alameda Research. Coincu reported that the bank announced a $1billion net loss for common shareholders in the fourth quarter 2022. According to Silvergate, Alameda opened a bank account before the launch of FTX in 2018. The information on this website is intended to be general market commentary and not investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuThanaCoincu NewsTags: Silvergatesilvergate bankSilvergate CapitalSilvergate Capital CorporationSilvergate CEOSilvergate Shares