Why Is B. Riley Financial Stock Rocketing Today?
Portfolio Pulse from Nabaparna Bhattacharya
B. Riley Financial's stock surged as Oaktree Capital is in talks to acquire a majority stake in two of its units. The deal values the units at $380 million, but it's not finalized yet. B. Riley's shares are at a 10-year low due to various challenges, including a suspended dividend and an SEC investigation.
August 21, 2024 | 5:36 pm
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B. Riley Financial's stock is up 32.4% as Oaktree Capital considers acquiring a majority stake in two of its units. The potential deal, valued at $380 million, is not yet finalized. Despite recent challenges, including a suspended dividend and SEC investigation, this news has positively impacted the stock.
The news of Oaktree Capital's interest in acquiring a majority stake in B. Riley's units has led to a significant stock price increase. This potential deal is seen as a positive development amidst recent challenges faced by the company, including a suspended dividend and an SEC investigation. The market's reaction suggests optimism about the company's future prospects if the deal goes through.
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IMPORTANCE 90
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