Bankrupt Revlon’s Surge Draws Retail Investors as Trading Booms
(Bloomberg) — Retail investors dashed into Revlon Inc. again on Tuesday as a stronger appetite for risky assets led to a more than 30-fold jump in trading for the bankrupt cosmetics giant.
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Revlon, which filed for court protection on June 15, rose 62% in New York, with over 183 million shares traded. That’s more than 31 times the average volume over the past three months. Since the company tumbled to an all-time low on June 13, the stock has surged 461% as roughly…