Bear Cave says B. Riley ‘diminishing credibility’ not fully recognized by market

In a recently published report titled “Problems at a Billion Dollar Mess,” The Bear Cave says that it has investigated “a complicated web that spans an alleged Ponzi scheme, hundreds of millions in suspect transactions, and over a billion dollars of publicly traded market capitalization. From crypto to data centers, to fake stock transactions, to a guilty plea, and now numerous allegations of wrongful conduct, this is one of the most confusing and bizarre situations The Bear Cave has seen.” “B. Riley Financial (RILY) is a Los Angeles-based investment bank and financial services company that is invested in a variety of public and private companies including crypto data center platform Applied Digital (APLD). Despite heavy criticism from a collection of prominent activist short-sellers including Marc Cohodes, Wolfpack Research, The Friendly Bear, and Aurelius Value, The Bear Cave believes B. Riley’s diminishing credibility is not being fully recognized by the market,” The Bear Cave’s Edwin Dorsey says. “Problems at B. Riley largely stem from B. Riley’s ties to Brian Kahn, an alleged co-conspirator in a large fraud at Prophecy Asset Management.”