Traders piled into shares of Revlon Inc., driving its gains from a record low to 650% as individual investors looked to strike a quick profit, while ignoring the fundamentals of the troubled cosmetics giant.
The stock surged 34% on Wednesday, bringing gains from an all-time low to more than 650% as trading volume continued to soar past recent trends. More than 119 million Revlon shares have traded on average each day since bottoming -- about 665 times the average daily volume in the past year prior to its boom.
