Hey traders, Barrie Einarson here with another look at what’s moving the market today. Let’s dive into a trade that really caught my eye this morning—Riley Financial, ticker symbol RILY. Now, this is a company that’s been through the wringer lately, and it’s presented some fantastic opportunities for those of us willing to play the short side. To Subscribe: https://go.trade-ideas.com/SHQ
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What’s the Story with RILY?

RILY has been in the headlines for all the wrong reasons. Whether it’s restating financials, delays, or just general financial turmoil, the stock has taken a serious beating. If you’re like me, you don’t need to know all the details to see that something’s off. All you need to know is the price action—and boy, has this one been a mover.

The Daily Breakdown

Let’s talk charts. A quick look at the daily chart shows the carnage. Just a few days ago, this stock was hanging out around $17. Then, boom—bad news hit, and the stock cratered. On the 18th, we saw it plummet. Our AI nailed the short around 9.75, and today, we’re looking at it around 5.19. That’s a killer move for those who had the guts to stick with it.

Intraday Action

Now, today’s action is where it gets really interesting. The AI flagged RILY again as a short opportunity, and we saw some wild swings. Around 9:45 AM, the stock took a nose dive, then made a weak attempt to recover. But the AI wasn’t buying it—literally. It gave us a short signal at 5.95, and from there, it was a ride to the downside.

What’s impressive is the percentage move we’re talking about. Even if you didn’t catch the whole move, getting in on just two-thirds of it would have been a solid trade. As of now, it’s still down 12% from the original alert, which just goes to show that there’s still room to profit from this one.

What’s Next?

So, what’s the takeaway here? Keep an eye on RILY. This company is a mess financially, and until they sort things out, there’s likely to be more downside to capture. For those who like to trade the technicals, this is one to watch. I’ll be following it closely, and I suggest you do too.

Alright, that’s it for today’s breakdown. I’m heading back to the trading room to see what else is popping. Check out my homepage for more information. Stay sharp out there, and we’ll catch up tomorrow. Happy trading!