Shares of First Republic Bank fell sharply in early trading this morning, which caused trades of the company to be paused due to volatility, implying investor discomfort with the financial institution despite government activity over the weekend to sort the Silicon Valley Bank crisis and potential cascading effects. The volatility comes just days after a stock market selloff that previewed SVB’s failure, as concern of contagion remains among analysts and the tech community more broadly.
As of the time of writing, equity shares of First Republic are off more than 65%, and trading has been halted as mentioned.
In an attempt to get ahead of investor concern, over the weekend First Republic Read Entire Article
