Revlon (Symbol: REV) reported a second-quarter loss of $11.3 million, or two cents per share, Wednesday.

President and Chief Executive David Kennedy cited multiple reasons for the smaller than expected loss.

Sales growth, benefits from restructuring actions started last year, and cost control shaped second-quarter performance, Kennedy said.

Revlon surged upward on the news. Shares roses 12.5% and closed at $1.17 on Wednesday.

As of this writing, most of the gains have been evaporated. In after-hours trading, Revlon is down 10.26% to $1.05 per share as beat-up shareholders take this as an opportunity to take profits.

If you were looking to trade Revlon, there was a window a few days ago when it dipped briefly below the $1 line. Had you picked it up then and sold into strength, you could have picked up an easy 10% or more.

I’m expecting to see a yo-yo action with this stock. It gave up the gains very quickly. We will see it open lower, but it just may hit $1.15 again quickly.

While revenues, $349.2 million, beat expectations, I think many shareholders were simply thinking that this was their moment to take money off the table with this stock.

I like Revlon as a speculative trade at $1.05 or under. If you’re not interested in trading for a 10-20% profit, hold on to it for a little bit. Could we see $2 per share when the fourth-quarter comes?