|Bid||8.25 x 900|
|Ask||8.28 x 3200|
|Day's Range||7.95 - 10.95|
|52 Week Range||1.08 - 17.65|
|Beta (5Y Monthly)||2.12|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 03, 2022 - Nov 07, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.50|
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Shares of bankrupt cosmetics company Revlon Inc. soared 17% Tuesday, swept up in another wave of 'meme-stock' buying by retail investors who were excited to learn that Morgan Stanley had increased its stake in the company in the last quarter.
Shares of Revlon (NYSE: REV) the cosmetics company that filed for bankruptcy protection only two months ago, made a big move today, soaring 30.6% after Morgan Stanley (NYSE: MS) made a surprise investment in the company. Revlon shares have surged over the two months since the company's filing, as meme stock traders like those on Reddit's WallStreetBets forum seem to hope they can pull the same trick they did with Hertz, the rental car company that filed for bankruptcy protection in 2020, shortly after the pandemic struck. Traders bid Hertz shares higher and eventually got a handsome payoff when the company was bought out by private equity firms in 2021.
(Bloomberg) -- Citigroup Inc. has sued Revlon Inc. in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant’s lenders and intensified after Revlon filed for bankruptcy. Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War Onset‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsWells Fargo Plans Major Retreat From Mortgage Business It Long DominatedDOJ Opposes Release of Affidavi