Uninsured deposits, I suspect they need to fire a few people.
Just because a comp y has good technology doesn’t mean they are brilliant in finance.
I am going out on a limb here .... but I think there is a touch of Trump Curse in all of this Silicon Valley Bank failure here.
Looking forward to seeing the facts that confirm (or debunk) my theory.
Cash equivalents should be short term treasuries that roll over every 30-60-90-180 days. There is really never any reason to leave so much excess cash actually in cash. With short term treasuries you know you can get the cash quickly if you really, really need to.
Wow, my sister is CFO of a large tech company and I know for a fact she would never let them keep all their eggs in one basket.
She will fid this hard to believe
The Cash isn’t stuck.
The Cash is gone.
Bye Bye.
I’ll be shocked if it isn’t almost entirely in repo agreements. Should be fully collateralized.
In the word of the great Inspector Cluseau:
“Not anymore”
Oops is not an adequate explanation.
Sounds like SVB was primarily a business banking operation.
I wonder just how many large companies/corporations have uninsured deposits in banks??? They got to put their money someplace
Not anymore.
No one has insured deposits over 250k.
By Monday a bailout will be ready. Phone calls and favors are being called in , not to mention bribes being paid. On Monday the Fed and the FDIC will have a deal in place to make everyone whole. They may have no choice.
Only the first $250,000 is ‘insured’... Which is NOTHING...
Roku stupid or one hell of a con job with the president of the bank?.
BTTT!!!
Roku shares fell over 4% in extended trading on the news.
I would not think that it would hurt Roku’s business stratergy and thus I would think the stock is a buy at the lower price which reflects investor emotion over business mangement.
I suspect Roku is probably a cash cow so it will see that much in new cash in a couple of months.