That SUCKS...I got lucky 500 shares a hair under 35 and sold 37. Saw it do that a few times and when it hit 39 I was going to buy 1000 if it hit 35 again. Then I saw the halt and thought it's open 60-80 and I missed out.
I thought SIVD is a holding company and SVB is an asset (now liability) in that holding company. Will look deeper this weekend. I had WAMU and that was quite the mess as the 'bank' asset was sold to JPM and the holding company went into BK. Bear Sterns, Lehman, WaMu, Fanny and Freddy all come to mind and all had different outcomes for SHAREHOLDERS both in the immediate (tradeable cheap shares that I averaged down and actually made money from Lehman and WaMu after BK buying pennies and selling higher once I saw a pattern/trading range)
This has a 52 week high of almost 600 and a low of 100 but over 11 million shares traded under 60 and most under 40 in the pre-market. Friday's put expirations are screwed because the stock didn't trade but if it doesn't trade Monday then maybe there's more news to come. I thought I saw a few hundred thousand shares trade after the halt and that was 40-60's range. So who knows what happens, but once/if it opens it's going to be an interesting ride as shorts cover and short again, traders trade, some go long and time will tell. Many eyes were on this after a 60% drop and when I saw it fell more than another 60% I saw an opportunity. Now millions more will probably be watching this stock to see if it trades. If I jump back in it will be with the intention to 'flip for freebies' or just catch the momo. If my 17500 got cut in half I'd probably become obsessed (like I am with BHC) and try to juggle the falling knives. Good luck in whatever you do and I hope you're able to use this experience to your advantage. My losses made me better and gave me the teeth and claws and a never give up (kept investing and got lucky in other stocks) that helped me dig out from 2008. This is feeling like early stages of that time unfortunately. (Bear Sterns) The BIG players don't react right away. (Big Short is a great watch/reminder right now) (even covid was spreading and the market didn't react til LOCKDOWNS but we all thought the market would fall and then it was a cinder block thrown into the deep end. Crammer made a comment about too soon and read the room. So I think we get one more inflation push where oil hit's 150+ a barrel and that is our 'lockdown' moment. Musical chairs with 100 people getting up but instead of 1 chair being removed it will be 95 removed. Not doom and gloom but a flush to pop/reset from the bubble created since the Great Recession. Whoops I went on a rant there, lol Smile, be happy but that is easier to do when profiting and not having uncertanity.
PS Just wanted to share my past experiences and let you know you're not alone.
