Shares of bankrupt Revlon soar 17% as investors cheer news that Morgan Stanley purchased the stock in latest quarter
August 16, 2022 at 14:38 PM EDT
Shares of bankrupt cosmetics company Revlon Inc. soared 17% Tuesday, swept up in another wave of 'meme-stock' buying by retail investors who were excited to learn that Morgan Stanley had increased its stake in the company in the last quarter.