Hertz (HTZGQ) Soared 45% Last Week: But Why?

Before the start of a fresh week of trading, it is perhaps time for investors to start taking stock of the situation and take a look at some of the stocks which made notable gains last week.

This past week, it was the Hertz Global Holdings Inc (OTC: HTZGQ) stock that experienced a strong move and soared by as high as 45%. In such a situation, it might be worthwhile for investors to start taking a closer look at the Hertz stock.

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On Saturday the company made a major announcement that could have an effect on the stock in the coming week. The company announced that a proposal from Dundon Capital Partners, Warburg Pincus, and Centrebridge Partners has been accepted with regards to equity capital for funding Hertz’s exit from bankruptcy. It is a significant development and more importantly, in excess of 85% of the unsecured noteholders in Hertz are in support of the proposal.

Jack Dawkins

Finance and Tech Contributor