Nevertheless, the downgrade doesn’t suggest the analyst is giving up fully on the inventory. “As SI’s shares have fallen, we have defended the bank’s management, operating platform, role within FTX’s platform, and strength of their balance sheet. We still feel validated on these positions,” Perito wrote. Nevertheless, the volatility in crypto trade within the wake of FTX chapter “made utilizing fundamental valuation models challenging” for the following twelve-months for the inventory, he famous.
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