B. Riley shares extend slump to decade low on loss warning, regulatory concerns By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 15 2024
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Source: Investing.com
B. Riley Financial's Stock Decline: B. Riley Financial shares fell over 27% to their lowest in a decade, driven by concerns over a significant second-quarter loss and ongoing regulatory scrutiny, including delays in filing reports with the SEC.
Impact of Regulatory Issues: The company warned of potential losses between $435 million and $475 million for the quarter, alongside markdowns related to its investment in Franchise Group, leading to a sharp increase in short interest and a substantial drop in market value.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
