Hertz Global (HTZGQ) Stock Twice In Price And Proceeds to Surge: What Might Affect It?

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.
Hertz Global (HTZGQ) Stock Twice In Price And Proceeds to Surge: What Might Affect It?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.

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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.

Jack Dawkins

Finance and Tech Contributor