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# B. Riley: Asset Write-Downs Confirm Balance Sheet Weakness? (Archive)
- URL: https://www.huntingalphas.com/b-riley-asset-write-downs-confirm-balance-sheet-weakness-archive/
- Published: 2024-08-15T03:17:00.000Z
- Updated: 2026-02-27T13:01:50.000Z
- Description: Asset write-downs and weak liquidity signal deep balance sheet risk and likely mispricing.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, RILY, Financials

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- Since my 'Strong Sell' view on B Riley and all its related securities, the common stock has fallen 64% and other security classes too have fallen more than 20%.
- The hierarchy of returns across B Riley's security classes has also played out as per my expectations, with shorter maturity duration, lower yield securities doing better.
- B Riley's balance sheet has gotten far worse due to large asset writedowns that according to my calculations have eradicated 7% of asset value.
- With dwindling liquidity, a negative net asset value as per my estimates and unprofitable normalized earnings, B Riley is bleeding cash and eroding its assets.
- Upon release of full financial results for Q2 FY24, I will be tracking core operating earnings to assess debt and interest coverage. Currently, the shorts are a crowded play, but I believe it is wise to stay away from longs.

Read the full article [here](https://seekingalpha.com/article/4714729-b-riley-earnings-does-asset-write-downs-confirm-balance-sheet-weakness?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*