RILY Rallies As Balance Sheet Crumbles
The Credit Strategist Blog
RILY traded up 30% today on a 1Q23 earnings release that showed the company’s balance sheet crumbling, SG&A expenses and interest expense rising sharply, and continuing losses on investments. About the kindest thing I can say about investors buying the stock based on this earnings report is that they don’t know how to read financial statements.
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