Silicon Valley Bank, under the holding company name of SVB Financial Group, is the 13th largest bank in the US, with $214 billion in assets. It is heavily involved in the ecosystem of startups, venture capital firms, and private equity firms in Silicon Valley and other cities in the US, and globally.
It reported earnings Thursday evening, which included a lament about the downturn in the venture capital and startup ecosystem and the “volatility” in the stock market – “volatility” meaning that the Nasdaq Composite is down 27% so far, which is strangling the money-flow into the startup ecosystem.
On Friday, its shares [SIVB] plunged 17.1%, and are now down by 53% from the peak in early November, 2021, which was about when the Nasdaq peaked. Silicon Valley Bank also went through the Dotcom Bust: After a huge run-up, its shares collapsed by 77%, about the same as the Nasdaq. So here we are today, with its shares, after a huge run-up, down 53% so far (data via YCharts).
https://wolfstreet.com/2022/07/22/the-silicon-valley-startup-and-venture-capital-barometer-plunges-silicon-valley-bank-svb-financial-today-v-dotcom-bust/
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