Wall Street

Lipstick On A Pig: Meme Stock Buyers Targeting Short Sellers Drive 560% Recent Revlon Gain

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ValueWalk

Near century-old American cosmetics giant, Revlon Inc (NYSE:REV) caught a wild ride this week after shares jumped 560% as meme stock-buying retail investors ruined many a short seller’s positions, buying the shares after the company revealed a bankruptcy filing and related financing. REV’s share price has fallen 48% since the beginning of the year, fuelled by investor rotations out of unprofitable companies with the onset of rising interest rates. Q1 2022 hedge fund letters, conferences and more The stock has been discussed by redditors at Wall Street Bets over the last week, with one calling …

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