Beauty is in the eye of the shareholder: Revlon declares bankruptcy and shares rally 600%

Is Revlon the latest meme stock, following in GameStop’s footsteps? The great beauty retailer, that had mega successful supermodels Claudia Schiffer and Cindy Crawford smiling from their billboards, they filed for Chapter 11 bankruptcy last week, after accumulating $3 billion dollars in debt. The thing is, they just haven’t been able to keep up with the competition, the next generation of celebrity brands like Rhianna’s Fenty Beauty, but also their mega peers, like L’oreal and Estée Lauder. But in a remarkable twist, since the announcement, the stock is up 600%.

More stuff you might want to read or watch:

How Revlon Lost Its Luster | WSJ

How the beauty industry left Revlon behind - Financial Times

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