Forget Revlon -- Here's Another High-Risk, High-Reward Stock That Could Reap Real Returns
Meme stock investors are at it again, buying shares of bankrupt Revlon (NYSE: REV) in an attempt to hit it big with a lottery ticket. The struggling makeup retailer filed for bankruptcy on June 16th with shares trading at just $1.95. However, shares have now surged based on interest from retail investors, and are now changing hands at over $8 a share. Is Revlon now worth four times what it was when it filed for bankruptcy just a few days ago? Of course not. While there is speculation that Revlon could be acquired by a bigger company, there is no offer yet -- and even if one materialized, it could be at a far lower price than where shares are now trading. As you can probably surmise, investors buying in based on the hype will most likely eventually be left holding the bag.
For risk-tolerant investors who are looking for a high-risk, high-reward play, why not instead invest in a much better stock like Carvana (NYSE: CVNA)?
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Source Fool.com
