What happened Share of Exela Technologies (NASDAQ: XELA) jumped as much as 18% on Wednesday after announcing that B. Riley Securities has purchased more than $35 million of the company's common stock. As of 3 p.m. ET today, the stock is up 10.2% on the day. So what B Riley Securities is an investment bank, so this sizable stake in the business process automation company (its current market cap is $233 million) likely inspired confidence among investors. Executives and directors of Exela are also purchasing more than $1 million worth of common stock along with the B. Riley investment. Image source: Getty Images. After the deal, the press release states, Exela Technologies will have to rely less on its at-the-money (ATM) common stock offerings. This is good news for existing shareholders, as the company has been greatly diluting shareholders in recent years, which lowers their ownership stake in the business. Now what Even after the rise today, Exela Technologies is still down 90% in the last three years. This is likely because of the consistent revenue declines, struggles to maintain profitability, and huge debt load on its balance sheet. Unless you understand this business well and think it can make a swift turnaround, it will likely be smart to stay away from the stock, even with this recent investment from B. Riley. 10 stocks we like better than Exela Technologies incWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Exela Technologies inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source