Monday wasn't a beautiful trading day for Revlon (NYSE: REV) stock. The storied cosmetics and personal-care products maker suffered a modest decline in share price against the nearly 0.6% gain of the S&P 500 index after it announced its latest capital-raising move.
That morning, Revlon disclosed that it's floating an at-the-market secondary issue of its class A common stock of up to $25 million. Sales of these new shares will be conducted from time to time. The company didn't get more specific.
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Why Revlon Stock Didn't Look Pretty on Monday