Silvergate Capital Plummeted Today -- Is It a Buy?
Silvergate Capital (NYSE: SI) stock fell 12% in Thursday's trading as bearish pressures impacted the broader cryptocurrency market. As of 4 p.m. ET, Bitcoin (CRYPTO: BTC) had lost roughly 6.6% over the previous 24 hours, while Ethereum's (CRYPTO: ETH) Ether token was down roughly 7.5%.
Silvergate Capital provides banking services for cryptocurrency exchanges, and its pricing movements historically have had a high correlation with the valuation trends for Bitcoin and crypto tokens broadly. After its double-digit percentage pullback in a single trading session, should investors be pouncing on this fintech stock?
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Source Fool.com
