[newaccount2023]

> it's clear that the uninsured deposits have fled First Republic

their customers are high-net-worth so this would basically means almost all customers have left FRB, which is obviously not the case

at this point the stock is so cheap you don't even need it to get back to previous levels to make a killing...even if it ends up at a 50% discount from its peak, thats 4x from the current price...which gives you an indication of how irrational the panic selling has become

[nostrademons]

Assuming that it doesn't go bankrupt or get fire-sold - both of which are very possible outcomes at this point.

#1 on Peter Lynch's list of mistakes an invester can make : "It can't go any lower." Any stock - including stocks of high-flying blue-chips - can go to zero.

https://www.flowbank.com/en/research/10-sayings-that-will-pu...

[newaccount2023]

Stocks do not go to 0 on the open market, and delisting does not imply 0 value

List a stock whose trade price was $0.00, I'll wait

[nostrademons]

Shareholders can absolutely get wiped out though.

For example, in the 2009 chapter 11 bankruptcy of GM [1], the assets of "old GM" (the one publicly traded on the NYSE) were sold to NGMCO ("New GM Corporation"), owned by the creditors of GM. Old GM continued to trade on the pink sheets as GMGMQ, and then was renamed MTLQQ ("Motors Liquidation Company") and then MTLQU ("Motors Liquidation Company General Unsecured Creditors Trust") [2]. New GM went public again in 2010 after emerging from bankruptcy protection, which is why if you look up "GM" on Yahoo Finance its history only goes back to 2010.

You can still trade MTLQU on the pink sheets [3], but its market cap is about $10M and it makes no profit - it's basically just a trust to settle litigation. If you held old GM stock going into bankruptcy in 2009 you were basically wiped out. The new company is owned by the creditors (which is kind of the point of bankrupty).

[1] https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reor...

[2] https://en.wikipedia.org/wiki/Motors_Liquidation_Company

[3] https://www.gurufocus.com/stock/MTLQU/summary

[radicaldreamer]

SVB and Signature bank shareholders have been wiped out literally in the last 2 weeks

[zamnos]

From two weeks ago, how would you describe the current price of SIVB?