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Why Revlon More Than Doubled This Week

Rich Duprey, The Motley Fool
·2-min read
Why Revlon More Than Doubled This Week

Showing there is no stock so distressed that meme stock traders won't pile into it, shares of Revlon (NYSE: REV) rocketed 113.1% higher this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after the cosmetics giant filed for bankruptcy. The car rental outfit's stock plunged to $0.56 per share upon its bankruptcy filing, but subsequently soared 1,000% within just a few weeks. Revlon has been around for nearly a century, meaning it's gone through recessions, wars, depressions, and pandemics, but current economic conditions were a perfect storm of calamity for the cosmetics company.

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