Insight - Meme stock investors place risky bet on bankrupt Revlon

Soaring stock: A billboard owned by Revlon is seen in New York. Retail investors’ fascination with Revlon has pushed its shares up by more than 300% since it filed for bankruptcy 11 days ago. — Reuters

EVEN for a veteran meme stock trader like Mike Minutelli, Revlon Inc is a wild bet.

The 30-year-old plumber from Oxford, North Carolina, scored a 350% profit last week by selling half the shares in the US cosmetics maker he bought after it filed for bankruptcy protection on June 16.