The value of your investments can fall as well as rise and you may get back less than you invested. Past performance is no indication of future results.
Update: SVB Financial Group (SIVB) stock is not currently trading. The Federal Deposit Insurance Corporation (FDIC) announced on Friday, March 10, 2023 that the California Department of Financial Protection and Innovation had closed the bank and named the FDIC as receiver. This comes after Silicon Valley Bank failed in its attempt to raise capital through a stock offering and then failed in a separate attempt to sell itself amid a rapid increase in customer withdrawals.
Can I buy stock in SVB Financial Group?
No, SVB Financial Group (SIVB) stock is set to be delisted from the NASDAQ. Shares of SVB Financial Group fell more than 60% on March 9, 2023, when the bank announced plans to raise more than $2 billion in funding. The bank planned to use these funds to strengthen its financial position following the sale of $21 billion in US Treasuries and mortgage-backed securities at a $1.8 billion loss. SVB sought to raise $1.75 billion through an offering of public stock and $500 million through a private placement with General Atlantic.
SIVB stock fell even lower after reports emerged that companies had begun pulling money out of the struggling bank. According to a California regulatory filing, customers withdrew $42 billion on March 9, leaving the bank with a negative cash balance of roughly $958 million at the close of business that day and incapable of paying its obligations.
Shares of SIVB never reopened for trading on Friday, March 10.
What happens to my SVB Financial Group stock?
The Nasdaq announced on Friday, March 10, 2023 that trading of SVB Financial Group stock will remain halted until the bank “has fully satisfied Nasdaq’s request for additional information.”
Unfortunately, a statement by federal regulators notes that SVB Financial Group shareholders will not be protected, meaning any losses to your investment may not be recoverable.
Buy stock in other US banks
Even though you can't buy Signature Bank stock on the Nasdaq, you can invest in other publicly traded banks from the US.
- Western Digital Corporation
- KeyCorp
- Comerica
- Glacier Bancorp
How to buy US shares
- Compare share trading platforms. To buy shares in a company listed in the US from Australia you'll need to find a trading platform that offers access to US stock markets. Look for a platform with low brokerage and foreign exchange fees.
- Open and fund your brokerage account. Complete an application with your personal and financial details, which will typically include your ID and tax file number. Fund your account with a bank transfer, credit card or debit card.
- Search for the stock. Find the share by name or ticker symbol. Research its history to confirm it's a solid investment that matches your financial goals.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until the stock reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying using consistent intervals and amounts.
- Decide on how many to buy. At last close price of US$106.04, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share, depending on your broker.
- Check in on your investment. Congratulations, you own a part of a company. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights.
Compare trading platforms to buy shares
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
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