Revlon Inc (REV) is trading 7% higher at $9.1 today. The stock's price action is rocketing past it's peers on what is quickly becoming a somewhat melancholic day for the Consumer Staples sector.
The stock is continuing it's meme rally as traders rush to the embattled makeup company.
Last week traders were bullish about:
- The global facial skincare market is expected to reach US$ 169.41 billion by 2030 at a CAGR of 4.9% from 2022 to 2030.
- Shares of bankrupt cosmetics company Revlon Inc. soared 17% Tuesday, swept up in another wave of ‘meme-stock’ buying by retail investors, excited to learn that Morgan Stanley had increased its stake in the company in the last quarter.
They continue the bullish buying today.
Revlon Inc has been trading between a 52-week high of $17.65 and a 52-week low of $1.08. The stock has a market cap of $494 Million.
Revlon has developed a long-standing reputation as a color authority and beauty trendsetter in the world of color cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden company and its portfolio of brands, including its leading designer, heritage and celebrity fragrances.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:shawmahawk - 15 upvotes -
source$REV
tendiesornothing - 10 upvotes -
sourceBbby, gme and rev
Apprehensive_Set4395 - 10 upvotes -
sourceRev all day/ TRUST ME BRO.. I’ve seen colors and lines that wrinkled brains have done for several moons… DD checks out. This week (Mon-Wed) chance to see big green arrow when access portfolio… 🦧🚀👍🏻
runnerstraw - 9 upvotes -
sourceRev!
slydog1990 - 9 upvotes -
sourceI threw $50 at REV but I'm regarded
PrettyInvestigator99 - 8 upvotes -
sourceBy REV you mean BBBY right
Barkelydog - 8 upvotes -
sourceREV
Okimingme - 8 upvotes -
sourceRev
C_Ladderman - 7 upvotes -
sourceI waiting for an entry point on REV.
MYR3L - 6 upvotes -
source$REV