Led by analyst Manan Gosalia, the team from the Wall Street bank downgraded its rating on Silvergate’s shares to underweight from equal weight, but kept its price target at $24. The stock was lower by 3% to $25.69 in premarket trading, adding to a decline of more than 50% since the beginning of November.
Crypto Bank Silvergate Cut to Underweight at Morgan Stanley Following FTX Collapse
