I DON'T KNOW THESE GUYS TOO WELL-- ANTI VIRALS I BELIEVE for flue.. They raised money and the stk dropped from $1.80 I don't see it doing anything after it claws back to that. Better fishing elsewhere-- Assertio/
HF took the S&P move 3,888--> 3,920 not the usual 100+ so they might feel there's more to the s bank story than I do I cant really call in today- it's too busy.
I see various companies chiming in we don't have money there or we do... Not a good look. The VC part of this.. is such an old story my god. This difficulty in getting funding (and paying bills) for VC's has been a slow drip for over a year. There's other bond stuff going on over my pay grade/
In general to lump this most radical of banks in with a JP Morgan is beyond foolish./ Everyone knows the Silicon business plan they lend off hope and dreams./ collateral is way shady but EVERYONE KNOWS THIS...
The Bad news here for us is we had wall street way off base with fully 70% calling for .50 raise next time by the fed- Something that was never going to happen. I've watched these Fed chiefs over the years they are loath to admit a mistake or look like flip flopping the market will lose confidence and then it's lights out. Now I'm sure the expectations are back at .25./
Wow look where they drove that Sig bank Ooopoha/// should of Gummied that thing. It went to $88./ back to $69 SBNY Signature Bank $69.48-21.28 (-23.45%)1:17 PM 03/10/23 NASDAQ | $USD | Realtime
It's a lot to unpack. But a different way of looking at this Silicon Bank situation is the higher inflation rate wiped them out in a way--due to their own mismanagement of expectations but in a bigger picture how can the Fed stay higher longer and tame inflation if these ticking time bombs are out there?
It's hard to take Bear pundits seriously when they switch their reasons for the market's demise. So one guy who was after me all the time about PE's, historical PE's and S&P earn, he's now talking bank failure as the reason to talk down the market. I guess if you fish enough you catch something.