MoneyLion initiated with Buy, $21 target at B. Riley

B. Riley analyst Hal Goetsch last night initiated coverage of MoneyLion with a Buy rating and $21 price target. MoneyLion sits at the forefront of embedded finance, and the market is “going to be big,” the analyst tells investors in a research note. The firm believes the company’s conversion of convertible preferred stock to common is a key value creation event for common stockholders that was missed by the market in late Q2.