B. Riley stock extends losses after bank delays quarterly report By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 13 2024
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Source: Investing.com
Stock Performance and Financial Loss: B. Riley Financial's shares dropped 10% in premarket trading after the company announced a delay in filing its quarterly report, following a 52% plunge on Monday due to expected losses between $435 million to $475 million for Q2, compared to a profit of $44 million last year.
Regulatory Investigation: The U.S. SEC is investigating B. Riley for potentially misleading investors about its financial health amid ongoing losses and a significant decline in stock price, with short interest in the stock rising to 40.6%.
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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.
