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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Source: Investingcom - 🏆 450. / 53 Read more »