Companies go kaput yet their stock...... soars!
Did not have to look hard. Just some obvious ones on the web:
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Shares of Revlon (REV) soared nearly 35% Wednesday afternoon in volatile trading. The stock is now up more than 300% in just the past three sessions — from about $2 to about $8 — after falling 13% on the day the company announced its Chapter 11 reorganization plan. (Talk about putting lipstick on a pig ... ) Revlon's stock surge is eerily reminiscent of what happened with rental car company Hertz (HTZ) in 2020 after it filed for bankruptcy. Shares initially soared thanks in part to positive mentions from traders on Reddit, who were betting against short sellers that thought Hertz stock would continue to fall further."