Beneficient (BENF)

Beneficient Stock (BENF) dropped by 16.39% from $0.659 to $0.551 in the trading on Tuesday November 14, 2023. The reason why BENF stock down today is due to the second-quarter FY2024 results.

• Operating loss for the period was $(272.1) million, compared to operating income of $24.2 million in the prior year period. The change was primarily due to non-cash goodwill impairment and negative credit loss adjustments, principally related to securities of our former parent company in the current period.
• Revenues of $6.5 million for the period, compared to $7.8 million in the prior year period. The change was as a result of lower net asset values held in custody.