This Crypto Bank Stock Is Up Nearly 200% in the Last Three Months

In general, most bank stocks have declined this year. But for the $2.6 billion financial firm Silvergate Capital (NYSE: SI), based in La Jolla, California, it has been a completely different story.

The bank conducted its initial public offering at the end of 2019 and for much of its public life traded between $13 and $16 per share. But at the end of September, the bank's stock surged and (as of Dec. 9) trades for more than $40 per share. The stock has appreciated close to 200% in less than three months.

Let's meet this relative newcomer to the public markets, and see what is driving the sharp increase in its stock price.

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Source Fool.com