B. Riley Financial Inc. ($RILY) is facing significant scrutiny and criticism as its stock price continues to decline, currently trading at $4, down from $60 a year ago. Analysts and investors have expressed doubts about the company's fundamentals, with one investor citing a recent short report from Kerrisdale as a pivotal moment for the stock. Despite a broader post-election rally in the stock market, $RILY has struggled to attract buyers, failing to recover above $5. Concerns about the company's financial health have been exacerbated by an open letter directed to CEO Bryant Riley, highlighting the company's precarious situation. Investors are increasingly questioning the viability of the stock, with some suggesting that it represents a significant loss in value, equating to a drop from $200 million to $167 million.