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Revlon Extends Rally to 650% From Low as Retail Traders Pile In

  • Stock’s surge brings deja vu to Redditors who bet on Hertz
  • Bankrupt cosmetics giant soars again as individuals buy
Revlon Files Bankruptcy Amid Supply Woes
Photographer: Gabby Jones/Bloomberg
Updated on

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.