Revlon (NYSE:REV) continues to revive memories of Hertz Global Holdings’ post-bankruptcy trading as it sustains a surge a week after filing for Chapter 11 protection.
Shares of the New York-based cosmetics company gained about 33% at the midway point of Tuesday’s trading day, jumping nearly $4 from the pre-bankruptcy nadir marked on June 13. In just the past five days, shares have roared over 200% higher.
The stock has traded in an incredibly volatile manner since the Wall Street Journal’s initial report of impending bankruptcy, swinging by double-digit figures in every trading session since June 10.
Read more on the $900M transfer mistake made to Revlon by Citi that is currently complicating bankruptcy proceedings.