Can Silvergate Capital Be a Great Growth Stock?
Silvergate Capital (NYSE: SI), a $5.6 billion asset bank that specializes in serving cryptocurrency clients, has experienced astounding growth since going public at the end of 2019. Currently trading at more than $160 per share, Silvergate is up more than 1,100% since its initial public offering. The bank currently trades at more than 700% tangible book value.
With such a fast start in its early life as a public company, can Silvergate continue to be a great growth company? The answer is complicated, so let's take a look.
Growth stocks are supposed to outpace their peers in terms of earnings and stock price appreciation, primarily because they have a competitive advantage in the industry they are in and/or huge potential. Silvergate certainly meets this criteria.
Source Fool.com
