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Bankruptcy meme stock favorite Revlon plunges after delisting from the New York Stock Exchange

Revlon Inc. shares lost more than half their value on Friday after the New York Stock Exchange made the beauty products company’s official delisting, deflating a wave of market interest that followed its Chapter 11 bankruptcy filing in June.

Shares fell more than 50% to close below $2 on Friday after the NYSE said on Thursday it had rejected Revlon’s appeal to remain listed on the Big Board. The share is traded over the counter. It traded around $2 when it filed for bankruptcy, but rose more than 400% the following week. It has since closed at prices approaching $9, despite financial strains.

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