Revlon Inc REV shares are trading lower by 5.20% to $4.57 Friday morning on volatility amid short-squeeze speculation on social media. The stock spiked during Thursday’s session and is selling off Friday morning.
Revlon has a total share float of 7.63 million, of which 1.90 million shares are sold short, representing 24.89% of shares sold short. The company filed for Chapter 11 bankruptcy in June and shares have seen marked volatility since. The company obtained court approval for its bankruptcy at the beginning of August.
Revlon is principally engaged in the cosmetics industry. The company’s product portfolio includes offerings in color cosmetics, skin care, hair color, hair care and fragrances.
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According to data from Benzinga Pro, Revlon has a 52-week high of $17.65 and a 52-week low of $1.08.
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Image and article originally from www.benzinga.com. Read the original article here.