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2 months ago

Why Is Revlon the Latest Meme Stock?

Cheddar News
Cheddar News
Revlon is the latest focus of the meme stock craze. Shares of the cosmetics giant have surged since filing for bankruptcy last week, as retail investors on Reddit piled into the company. Lance Ippolito, the head trader at New Money Crew, explained why Revlon stock is soaring so dramatically and what the headwinds are for the retail sector as it faces a wave of bankruptcies. "Really with these meme stocks, is you wanna what I call date them. You don't want to get committed. You don't want to marry them long-term. You don't want to own them for years or so."