Why Revlon Stock Was Down This Week
Revlon (NYSE: REV) shareholders underperformed the market through Thursday trading this week. The cosmetics specialist's stock was down 13% compared to a 1.4% drop in the wider market, according to data provided by S&P Global Market Intelligence.
The move pushed the meme stock deeper into negative territory in 2022, down over 50% so far. It was sparked by volatile swings in the debt markets, which Revlon needs to tap as it works through its bankruptcy and restructuring programs.
Interest rates continued rising this week and markets fell as investors became more pessimistic about the economy's short-term prospects. These negative trends threaten Revlon's rebound hopes, which rely on both growing demand for cosmetics and easy access to affordable credit.
Source Fool.com
