
Revlon Inc (NYSE:REV) shares continue to surge Wednesday on abnormally-high volume amid increased retail investor interest following the company's Chapter 11 bankruptcy filling announcement last week.
Revlon said it filed for bankruptcy to strategically reorganize its legacy capital structure and improve its long-term outlook. Retail traders have since flocked into the name hoping for a buyout. Reports from last week suggested Indian conglomerate Reliance Industries was considering a buyout of the company.