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Revlon stock skyrockets amid courts approving bankruptcy loan

Yahoo Finance Video

Revlon shares have doubled on news that a court approved its $1.4 billion bankruptcy loan.

Video Transcript

SEANA SMITH: We want to get to some breaking news. We're watching shares of Revlon double. You can see it on the screen, up just about 112%. It just resumed trading after being halted for volatility. Now the company reportedly receiving court approval for a $1.4 billion bankruptcy loan.

Now, remember, Revlon filed for Chapter 11 bankruptcy back in June, saying that its $3 and 1/2 billion debt load left it unable to make those timely payments to critical vendors in its cosmetics supply chain. We saw shares react to that news. And we're seeing it, the reaction today for the approval of the $1.4 billion bankruptcy loan. You can see it up just about 115%.