REVLON up 120% in one day… why crickets?
Looking at my broker I saw news of REVLON bankruptcy loan and watch as the ticker climbed from 8.50-9+ in a matter of minutes having started 2 hrs earlier.
Looking further I see only around 7.5mil shares(~14%) are available to the public and institutions, but some days have 160million volume?
Can someone with a brain answer why when looking at 6 month yahoo ticker it shows the price tank at near 10mil sold only to be bought hundreds of millions of times back in June before this recent price action? What sort of shenanigans?
Looking for news a couple of mentions here in the past 2 months gave good info on short interest, market cap is much lower than revenue on this huge brand, some small YT calling out the signs, etc. The only news I could briefly find was a warning about them from the least trusted sources confirmed my bias.
Reading their 10k was enlightening for their brand presence beyond the obvious. A $2bil/year sales company with high debt(gee thanks BCG), but otherwise positive imo.
get your wives girlfriends moms grandmas sisters and weird uncles to take a look, maybe they'll like the stock.
$10/share is a steal for this icon but what of that extremely odd volume in June? Is this squeeze for them or us?
Submitted August 02, 2022 at 07:41AM by IrresponsibleNads
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