By Kuldip K. Ambastha
In the past trading week, the global beauty company Revlon, Inc. (REV) had mostly positive daily returns except for a price decline of -11.5% per share seen on Thursday, June 23, 2022. Per an announcement dated Thursday, June 16, 2022, Revlon has filed for voluntary Chapter 11 bankruptcy and reorganization for prominent units of the company. After this announcement from the prior trading week, Revlon became the latest meme stock which speculators believe perhaps has a bright future despite current troubles. Accordingly, the -11.5% negative return seen for Thursday, June 23, 2022 could be a sign of temporarily declining corporate fundamentals which could improve later on per what retail investors are hoping. However, only time will tell if the speculators are right to be bullish at this point.
Keywords – Revlon, Inc., Revlon, REV, beauty, Chapter 11, bankruptcy, reorganization, meme stock, speculation, bullish.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in REV.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2022 – Ambastha Financial LLC.
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