Revlon revs up as it prepares to exit bankruptcy!
Most penny stocks are small, random companies you’ve never heard of before. But what some people don’t realize is that there are a few gems buried in the OTC Market (Over The Counter) that are major corporations / recognized brands which means swinging them can be less risky that new startups or unknown companies.
Take for instance Revlon Inc which is a widely known makeup company that was delisted from the NYSE back on June 15, 2022 which moved it to the OTC Market and it’s price dropped into penny stock territory:
Revlon Announces New York Stock Exchange's Decision to Delist Its Common Stock
NEW YORK--()--Revlon, Inc. (NYSE: REV) ("Revlon" or the "Company") today announced that on October 20, 2022, the NYSE…
Not to say that there is zero risk — everything in the market is risky, especially these days — but $REVRQ made a Stage 1 Breakout today so I’m very interested in that and here’s why:
Revlon Moves Closer to Bankruptcy Exit
Revlon is one step closer to emerging from bankruptcy, after the company reached a deal with a creditor group. The…
“A penny stock saved (from bankruptcy) is a penny earned.”
Some recent news about Revlon exiting a bankruptcy claim has caused a spike in their share price: