Revlon Inc. (NASDAQ: REV) Revved Up
(24/7 MARKET NEWS) Revlon Inc. (NASDAQ: REV) is looking more-and-more like it could become the next great short play. For example, just yesterday it traded at a low of $1.25 and ran to a high of $3.06, only to close at $1.95. So, even though it closed the day down, $0.30 (-13.33%), there was an opportunity to more than double your money during the session and, with 43,772,681 shares exchanging hands, it had plenty of volume.
In this morning’s premarket, Revlon is at 3.52, up $1.57 (+80.51%), on 10,809,634 shares.
We’ve been calling out Revlon for most of the week, because it is likely to begin following Redbox Entertainment’s (NASDAQ: RDBX) trading patterns and this is a common pattern for heavily shorted stocks. Some would say that, if you don’t like the direction it’s going, you might just wait 15 minutes and love it.
Redbox is down to $11.16, $0.53 (-4.55%) lower, on relatively light volume of 200,079 shares, after closing yesterday at $11.69, up $0.73 (+6.66%), on 19,929,767shares traded.
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