Why Shares of B. Riley Financial Are Surging Today

Shares of the financial services company B. Riley Financial (NASDAQ: RILY) traded more than 14% higher in the late morning on Tuesday after it announced that it will join the S&P SmallCap 600 on Thursday.

B. Riley offers a variety of financial services, including capital markets and investment banking, advisory services, real estate, wealth management, venture capital, and more.

The S&P SmallCap 600 is an index of U.S. small-cap stocks with market capitalizations ranging from $700 million to $3.2 billion at the time the company is added to the index. B. Riley currently has a market cap of nearly $1.9 billion.

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Source Fool.com