Hertz Global Holdings Inc (HTZGQ) Stock Attempts To Recover: A Good Buy Now?

Car rental company Hertz Global Holdings Inc (OTCMKTS:HTZGQ), which declared bankruptcy not too long ago, is all set to be the subject of an auction soon between Certares Management and Knighthead Capital Management.

The two companies are going to participate in the auction with the view of replacing Centerbridge Partners, the company’s reorganization partner at this point. This past Tuesday, Hertz Global requested a judge to lay down the set of rules with regards to the above-mentioned auction.

Related:  Ford Motor (F) Stock Extends rally As Analyst Boosts Rating citing EV Plans

The news resulted in considerable interest in the Hertz Global stock and last week the stock managed to clock gains of as much as 25%. In this regard, it is also important to point out that Hertz Global has given the Knighthead Capital Management consortium up until May 2 within which they would need to submit their best offer for buying the company. If the offer meets expectations then the auction could be held on May 10.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life