Buy RILY by Aug 26, 2026.

I’ve been diving deep into the **B. Riley Financial ($RILY)** balance sheet, and I’m struggling to find a scenario where the math doesn't eventually break the short thesis. We are looking at a company trading at a **0.6x P/E** while sitting on a "Nuclear Option" that effectively wipes out their debt. **The "Disconnected" Reality:** The market is pricing $RILY like it’s headed for a liquidity freeze in September. But look at the **Baby Bonds ($RILYN, $RILYG)**. They are trading at …