SVB Financial stock plummets toward biggest one-day selloff in 23 years after stock offering, large losses on securities sales

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SVB Financial stock plummets toward biggest one-day selloff in 23 years after stock offering, large losses on securities sales
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Shares of SVB Financial Group plummeted 30.6% to pace all of the S&P 500’s premarket losers on Thursday, which puts them on track for the worst one-day...

Shares of SVB Financial Group SIVB plummeted 30.6% to pace all of the S&P 500’s SPX premarket losers on Thursday, which puts them on track for the worst one-day performance in 23 years, after the banking services company announced a stock offering and a large loss from the sale of assets. The company said late Wednesday that it plans to sell $1.25 billion worth of common stock, which represents 7.9% of the company’s market capitalization of $15.

6% to pace all of the S&P 500’s SPX premarket losers on Thursday, which puts them on track for the worst one-day performance in 23 years, after the banking services company announced a stock offering and a large loss from the sale of assets. The company said late Wednesday that it plans to sell $1.25 billion worth of common stock, which represents 7.9% of the company’s market capitalization of $15.

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