B. Riley Financial Inc. $RILY, a diversified financial services firm, has successfully attained an extension from Nasdaq to continue trading until the end of the third quarter. The extension comes as the company seeks to rectify its overdue financial reporting for the entire 2024 fiscal year and the first quarter of 2025. This strategic maneuver is crucial for the firm as non-compliance with Nasdaq's listing standards could have led to delisting threats. The firm now faces a critical deadline, requiring all updated financial statements to be filed by September 29.

Recent developments surrounding Hesai Technology (NASDAQ:HSAI) have sparked intense discussions in the financial markets. Allegations made by Blue Orca Capital have called into question the legitimacy of the company’s business and the accuracy of its financial reporting. As a result, Hesai shares fell by 8%, prompting a reassessment of investors' views on the future prospects of this technology company.