Hertz Global Holdings Inc (HTZGQ) Stock Turns Volatile Amid Uncertainty

The Hertz Global Holdings Inc (OTCMKTS:HTZGQ) stock has been one of the major movers over the past few trading sessions and perhaps it is time for investors to take a closer look.

The HTZGQ stock has actually clocked gains of 82% since April 16. Yesterday it emerged that the car rental firm had requested a judge to come up with a set of rules with regards to the auction that is going to decide whether Certares Management or Knighthead Capital Management is going to be its reorganization sponsor.

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The winner of the auction is going to replace Centrebridge Partners, who are the current reorganization partners. As per a court filing this past Monday, Hertz Global had given Knighthead Capital up until May 2, 2021, within which it would need to come up with its best offer to buy the bankrupt company. If the offer meets expectations, Hertz is going to conduct an auction on May 10. Up until then, investors could consider keeping an eye on the stock.

HTZGQ stock has erased its morning session gains and now down by over 4% at $2.06, after gaining as much as 7% earlier in the session.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.