Submitted by Current_Cantaloupe_9 t3_zyceae in wallstreetbets
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VisualMod t1_j24zww2 wrote
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Potential_Nose_8894 t1_j251263 wrote
Shorts are attacking this company to support their own company which is competitor. Every couple of days they plan and attack watch them on Twitter it’s coordinated
Potential_Nose_8894 t1_j2518an wrote
I kept an eye on the CEO and earning calls they’re legit and practical CEO. Shorts on the other hand are cursing and attacking him personally
Current_Cantaloupe_9 OP t1_j251tgj wrote
Yeah these guys have been around for awhile and understand the crypto market. They've already been through a winter, the company started working on their crypto banking platform back in 2013. I'd say they have a good idea of what risks are out there.
Jeremiah_Vicious t1_j251ku9 wrote
Didn’t Silvergate loan MSTR money to buy Corn?
popobono t1_j254dr4 wrote
Less than 50% short interest isn’t that much nor does it automatically imply a short squeeze. For example carvana has had over 50% for most of the past couple months, yet it’s fallen 82%. Further SivG isn’t selling off for no reason, it’s selling off because it’s entire business model is in jeopardy (politicians contemplating placing regulations that stop crypto banks from accepting crypto as collateral) and one of its largest sources of revenue was just wiped out (FTX) along with a weak demand for crypto in general. The worries are not unfounded. Yes SivG might survive, yes it may pump to burn shorts, this is a crazy market and anything can happen. But the risk/reward is great. Many don’t like the risk, justifiably. Also, a companies own book value does not automatically mean that’s what the company is truly valued at, nor that it’s being undervalued. Most investors have no idea what SilverGates accountants are using to justify that valuation. For example as far as we know it could be counting their crypto reserves as assets, if so their own valuation method would be falling to the downside along with the crypto market, yet their book won’t reflect it until it’s updated, which only happens once a year.
For example Asos is heavily undervalued as of right now when compared to their book. Yet it comities to trade lower. Why? Probably because Asos likely uses their clothing inventory as assets on their book value, that coupled with a downturn in consumer spendings means less clothes being sold, more discounts, inventory loss etc. The outlook of the companys future in the current economic environment isn’t good and the book value is likely inflated by a depreciating asset. Almost exactly like SivG right now.
That said, do what you want, anything can happen in this market.
AutoModerator t1_j254dsd wrote
Squeeze these nuts you fuckin nerd.
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EnlightenedEnemy t1_j25hpj1 wrote
Short interest is 58%
throwaway_0x90 t1_j251ayr wrote
I see that this stock has no options and very little info on Yahoo Finance... and zero comments in its comment-section.
That makes me suspicious.
Current_Cantaloupe_9 OP t1_j25259v wrote
>https://finance.yahoo.com/quote/%5ECEX?p=%5ECEX
Silvergate (SI) the 'CEX' was referring to the centralized exchanges in the crypto space.
VisualMod t1_j24zxiz wrote
>Yes, I have seen the short interest on Silvergate. It is indeed very high, and it appears that investors are fearful of what may happen with the company in the future. However, I believe that earnings will surprise everyone to the upside on Jan. 17th, so those fears may be unfounded.