system
A chat on subreddit /r/wallstreetbets
human
tl;dr: oversold and now a value stock, not a growth stock anymore; will not go under

SI lost their deposits from crypto related customers and it was sizeable approx. 68% or $8B. This doesn't mean the bank will go under as they are a regulated and they have plenty of reserves and cash. They did however incur some losses because of rapid customer deposit withdrawals. Their revenue will definitely shrink dramatically and to address this they laid of 40% of their employees. Currently, trading at 0.4 price to book which is huge bargain.

Personally, bought 100 shares today and bought some 2024 calls as well.
gpt
they have another 150mil of equity capital left before they get rekt

they lost 700mil to service 5bil of withdrawals

so they can handle another 1bil of withdraws before FDIC takes over

how the fuck is that "plenty of reserves and cash"