The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.
]]>Revlon stock plunged to $1.17 in the days leading to the bankruptcy filing on June 15th but then started to climb back up in the following days. It surged to $8.14 on Wednesday before settling at $7.52 on Friday.
This jump in value probably has something to do with recent rumors that Revlon might actually avoid bankruptcy. Finance outlet ET Now reported earlier this week that Indian multinational conglomerate Reliance Industries Ltd. is considering making a bid for Revlon. If that turns out to be true, the investment might be worth it. However, industry experts say that the chances of this happening are slim and that investors might end up holding worthless stocks.
Revlon turned to Chapter 11 after the company amassed a substantial debt of around $3.31 billion. This was a result of shrinking sales as well as an array of other problems. It turned out that the company especially suffered from supply issues which caused late product shipments and disrupted its relationship with suppliers and vendors.
The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.
]]>The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.
]]>Revlon stock plunged to $1.17 in the days leading to the bankruptcy filing on June 15th but then started to climb back up in the following days. It surged to $8.14 on Wednesday before settling at $7.52 on Friday.
This jump in value probably has something to do with recent rumors that Revlon might actually avoid bankruptcy. Finance outlet ET Now reported earlier this week that Indian multinational conglomerate Reliance Industries Ltd. is considering making a bid for Revlon. If that turns out to be true, the investment might be worth it. However, industry experts say that the chances of this happening are slim and that investors might end up holding worthless stocks.
Revlon turned to Chapter 11 after the company amassed a substantial debt of around $3.31 billion. This was a result of shrinking sales as well as an array of other problems. It turned out that the company especially suffered from supply issues which caused late product shipments and disrupted its relationship with suppliers and vendors.
The post Revlon Stock Surges Despite Bankruptcy Filing appeared first on theprimarymarket.com.
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