B. Riley Financial Is Plunging. Why Is RILY Stock Down 52% Today?
B. Riley Financial(RILY) Investor Place·2024-08-13 02:11
B. Riley Financial (NASDAQ:RILY) stock is taking a beating on Monday after the financial services company provided its latest preliminary earnings results to investors.These preliminary results include a net loss per share of 15 per share. This is due to its net loss for the quarter coming in between 475 million.These losses come as the company expects an impairment charge of 370 million from its investment in Freedom VCM. It’s also expecting an impairment charge o ...