Car rental service has been severely hit by the pandemic so Hertz got wounded a lot thus sold many assets including cars to cover operational expenses. Many indebted companies became insolvent quickly.
Right now holding on till the last breath is happening to Hertz as dark tunnel doesn’t show light yet. The second wave could come this fall or winter by beating up many businesses again.
On Tuesday NYSE: HTZ concluded with $1.46 at market closure. Now it is rising 15.06% on 33 million shares. On June 24th investors cheered up with jumping $2.037 price but early happiness was followed by instant fall on the next day.
HTZ temporarily rises due to speculation with the expectations from losing investors who bought too many shares as COVID-19 was an unreal issue last winter.