B. Riley's stock plummeted nearly 35% on Monday after disclosing unrealized investment losses and receiving a downgrade from S&P Global Ratings. The investment bank marked down the value of its investment in Franchise Group Inc, resulting in a net loss of $75.
8 million in the third quarter. B. Riley's stock has lost nearly 50% of its value since the announcement.
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Investors Brace for Turmoil as Stock Market Faces Key Economic Data and EarningsInvestors should brace for fresh turmoil next week as the stock market faces several market-moving events, including key economic data as well as earnings from the major U.S. retailers. With investors growing increasingly uncertain over the Fed’s monetary policy plans, a lot will be on the line during the week ahead. The U.S. government will release the October inflation report on Tuesday at 8:30 AM ET and the number could be hotter than September’s 3.7% year-over-year pace. The headline annual inflation rate is seen rising 3.8%, accelerating from a 3.7% annual pace in the previous month.
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