Action to Take: Sell Shares of TWST and PFBC
The market is reeling today from the fallout of recent bank runs on SVB Financial Group (Nasdaq: SIVB) and Silvergate Capital Corp. (NYSE: SI). Our portfolio is not directly exposed to those stocks, though considerable “contagion” selling could still hit regional banks and, even more broadly, many cutting-edge technology companies, since SIVB was the go-to bank for a lot of them. We have long established stop-loss levels on each of our positions and today I’m recommending you close out two positions that could face further selling pressure ahead.
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