We all know SI has massive short interest and they are tanking from delaying their 10-K report. Something sketchy is going on in their books and it doesn't look good for the crypto banking world atm.
Here is the breakdown in very SIMPLE dumb bullet points:
-Stock in trouble from shady assets on balance sheet. They delayed their 10-K yearly filling -Fear of potential bank run -Highest Short interest stock in the market -They will release 10-k and it will most likely be shit pushing stock lower. -Market Cap will be extremely low under 100Mil -All of this negativity will increase short interest higher than the current rate of 70% .
-We can then see how much short interest has gone up -A squeeze starting in the single digits like $2 a share is always better than starting at $22
-We end up with a $2 stock with negative news and the potential for bankruptcy with the highest short interest in the stock market. Sounds just like all the other bankruptcy squeeze plays. This seems like all the obvious indicators are lining up so much that I believe the big banks are creating this squeeze. It's to many conveniently converging variables.
—Things to note— There are several news articles about big banks owning stock in this company. Here is the breakdown.
Blackrock = 2,285,197 Shares Citadel = 1,729,291 Shares State Street Bank = 2,950,198 Shares Susquehanna = 2.37mil shares Vanguard = 2,605,254shares
This is a BULLSHIT and should not be taken seriously. This is a distraction they used to lure in novices to buy in the $20s. A bank can have a position in this stock then hedge that position. When the negative news comes out they can sell their shares of stock, pushing the stock lower. They then sell their hedge for a profit. THEN they can decide if they want to buy the stock at the cheaper price. So I don't believe this “Institutional Ownership” case is a real positive for the stock. I think they are using it to lure in dumb money. Here is a Barron's article where Citadel says they have a stock position, but its hedged. They do not have a directional bias. Don't let this be the reason you play this stock. https://www.barrons.com/articles/silvergate-stock-price-fund-holdings-ce8dde0d
Best of luck.. Hopefully this info will lead to you making some money or just learning something about the shenanigans of finance.
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