Revlon, Inc. (NYSE:REV) shares are trading higher following a Reuters report suggesting a US bankruptcy judge has given the company permission to proceed with a $1.4 billion loan.
According to the report, the judge’s approval also commits Revlon to non-financial conditions, which include a schedule for exiting bankruptcy by April 2023 on terms favorable to the lenders.
The stock is also trading on above-average volume. The stock’s 100-day average volume is around 16.1 million shares. At the time of publication, the session volume had already exceeded 41 million shares.
According to StockTwits, Revlon was the top trending company of the day.
At the time of publication, Revlon’s stock was up about 114% at $9.57 per share on Monday, according to data from Benzinga Pro.
