SVB Financial Group Continued to Tumble Over 23% in Premarket trading on Bank Woes

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SVB Financial Group Continued to Tumble Over 23% in Premarket trading on Bank Woes

Tiger Newspress2023-03-10

SVB Financial Group is seeking to raise $2.25 billion in equity after selling securities at a loss to shore up its balance sheet.

Moreover, the Founders Fund, the venture capital fund co-founded by Peter Thiel, has advised companies to do just so. The fund told the companies there was "no downside" to withdrawing their money as concerns about SVB's financial stability swirl.

Stocks continued to tumble over 23% in premarket trading.

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Andrewinho
·2023-03-10
😱😱😱
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Singman
·2023-03-10
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