Why Silvergate Capital's Stock Price Plunged 31.8% in June

Silvergate Capital (NYSE: SI) fell hard in June, dropping 31.8% for the month, according to data from S&P Global Market Intelligence.

Silvergate Capital is the holding company of Silvergate Bank, which caters to the cryptocurrency industry. Its performance trailed the S&P 500, which was down 8.4% for the month, and the KBW Bank Index, which was down 12.9% in June. Silvergate Capital is down about 57% year to date as of July 7.

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Source Fool.com