Investing
Retail Army Defies Bond Logic to Drive Revlon Stock 600% Higher
In an echo of meme-stock mania, individual investors are piling into Revlon shares even after the troubled cosmetics company filed for bankruptcy.
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With Revlon Inc. spiraling toward bankruptcy last week, Justin Brain, an insurance salesman in South Florida, saw a rare opportunity to make a killing. Brain, 37, snapped up $40,000 of stock in the cosmetic giant.
He was thinking about companies like Hertz Global Holdings Inc., which filed for bankruptcy in 2020 and then became a retail-trader darling, or GameStop Corp., the struggling video-game retailer that came to epitomize meme-stock mania.