Why Live Ventures Shares Were Nearly Cut In Half Today

Live Ventures Inc LIVE  is trading lower Wednesday after the company announced the SEC has filed charges against it.

The charges follow a nearly four-year investigation of Live Ventures by the SEC. The company said it categorically denies all charges and will 'vigorously' defend itself. 

Live Ventures is a holding company for diversified businesses. The company is focused on acquiring and operating profitable companies in various industries including retail, flooring manufacturing and steel manufacturing.

Live Ventures is scheduled to report its third-quarter fiscal 2021 financial results after the market closes on Aug. 16.

Price Action: Live Ventures has traded as high as $75.25 and as low as $7.82 over a 52-week period.

At last check Wednesday, the stock was down 45.70% at $34.