FINRA's counts through the crypto-focused bank's final fifteen months, from the November 2022 failure of FTX to the March 2023 decision to wind the bank down.
Figures are the short interest as a percentage of shares outstanding, from FINRA data, 32 points between 14 Jan 2022 and 28 Apr 2023.
Silvergate Capital Corp began this window with 5.66% of its shares outstanding reported short on 14 Jan 2022, which is also the window's low. The figure roughly doubled over the first half of 2022 and then jumped in November and December of that year.
It reached 66.82% on 28 Feb 2023: close to two thirds of every share the company had in issue. Very few US companies of any size appear at that level in the FINRA data we hold.
The bank served cryptocurrency businesses, and the exchange FTX filed for bankruptcy in November 2022. On 5 January 2023 the bank reported a sharp fall in deposits for the previous quarter and said it had cut staff. On 1 March 2023 it said it would not file its annual report on time, and on 8 March 2023 it announced that it would wind down operations and voluntarily liquidate the bank.
Days to cover peaked in this window at 5.77 days on 31 Aug 2022, months before the position itself peaked: by early 2023 the shares were trading heavily enough to keep the ratio low even at the high.
FINRA's final published count for the listed shares is dated 28 Apr 2023, at 39.15%. The company's page here is a frozen archive marked with its delisting year, and no figure on it has changed since.
Full history and today's figure: Silvergate Capital Corp. This company has delisted; its page is a frozen archive.
US short interest data: FINRA (finra.org). FINRA® is a registered trademark of the Financial Industry Regulatory Authority, Inc. This site is not affiliated with or endorsed by FINRA or the SEC; displayed for personal reference, bulk redistribution is not permitted (see terms). The narrative describes what the published figures showed and widely reported public events around them; it is not a description of any company's prospects and is not investment advice.