On May 10, Hertz had a huge soar from $3.69 to $6.78, now it stands at 6.75 after a week of volatile marks. Let’s take a look at the company’s most recent results and announcements.
Existing shareholders must receive more than $1 billion in value, and creditors must be paid in full. The company was given an opportunity to thrive yesterday when the Company’s Reorganization Plan was confirmed (the “Plan”) by a court. The proposal, which was adopted by more than 97% of voting shareholders, does not affect all categories of creditors. Hertz will indeed be able to exit Chapter 11 by the end of June 2021, thanks to the Court’s decision.
Experts expect a bump up in the stock, associated with the recent reforms of the company and the preparation of a plan for recovery after the pandemic situation.