SVB Financial Group’s shares plunge 60% amid global turmoil, validating AL-2023 predictions
Shares of SVB Financial Group (SIVB.O) plummeted by 60% on Thursday, following the launch of a $1.75 billion share sale aimed at strengthening its balance sheet and navigating the challenges posed by declining deposits from startups struggling to secure funds amidst rising expenses. The bank’s CEO, Greg Becker, revealed that clients’ cash burn had increased […]