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May 12, 2022, 10:28 a.m. EDT

Silvergate Capital stock down 57% since May 4 amid bitcoin swoon

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By Steve Gelsi

Silvergate Capital /zigman2/quotes/214908078/composite SI +5.38% shares fell 15.6% on Thursday amid weaker bitcoin prices, as a chartered bank that runs a banking portal called Silvergate Exchange Network for clients including Coinbase Global Inc. /zigman2/quotes/225893452/composite COIN +7.73% , Paxos, Kraken and Bitstamp Ltd. The stock is down about 57% since May 4, when it traded at $140 a share. Silvergate Capital is covered by seven Wall Street analysts, all of which have buy ratings on the stock, according to FactSet. The stock is now trading at its lowest point since December, 2020, when it last changed hands around the $60 mark.

/zigman2/quotes/214908078/composite
US : U.S.: NYSE
$ 107.03
+5.46 +5.38%
Volume: 463,291
Aug. 12, 2022 4:00p
P/E Ratio
30.97
Dividend Yield
N/A
Market Cap
$3.39 billion
Rev. per Employee
$869,548
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/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 90.49
+6.49 +7.73%
Volume: 13.76M
Aug. 12, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.09 billion
Rev. per Employee
$1.55M
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