First Republic Bank gained over 50% on Tuesday's premarket session after closing nearly 62% lower on Monday. Bank stocks are recovering in early trading after suffering their most significant losses in three years on concern created by the collapse of Silicon Valley Bank.
Another regional bank, Western Alliance Bancorp, rebounded by 36%, along with larger US banks such as JPMorgan Chase, Citigroup, and Wells Fargo, which advanced by 1.32%, 2.50%, and 3.62%, respectively, at 8:01 am ET. Finally, a minute later, First Republic was trading up by 45.79% to sell for $45.50.
