Provident Bancorp, Inc.

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Company Name	Provident Bancorp, Inc.
Stock Symbol	PVBC

On November 15, 2022, Provident announced that it would be unable to timely file its quarterly report for third quarter 2022, but disclosed that it currently estimates a net loss of approximately $27.5 million. The Company explained that is still evaluating the actual level of losses “due to the recent decline in the cryptocurrency mining industry.”

On this news, Provident’s stock price fell $2.20, or 21.8%, to close at $7.90 per share on November 16, 2022, thereby injuring investors.

Then, on November 17, 2022, The Bear Cave issued a report alleging that Provident has potentially ballooning bad debt expenses relating to some of its cryptocurrency related loans and transactions.

On this news, Provident’s stock price fell $0.49, or 6%, to close at $7.45 per share on November 18, 2022, thereby injuring investors further.

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If you suffered a loss on your Provident Bancorp, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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