About Hertz Global Holdings, Inc - Common Stock (HTZ)
Hertz Global Holdings Inc is a prominent player in the vehicle rental industry, offering a diverse range of rental cars and services to both leisure and business travelers. With a strong presence in airports and urban locations, Hertz provides customers with flexible rental options and a variety of vehicle choices, from economy cars to luxury vehicles and SUVs. The company is also focused on enhancing the customer experience through technology, including mobile apps and online booking platforms, while promoting environmentally friendly practices through investments in electric and hybrid vehicle fleets. Hertz is committed to sustainability and aims to provide innovative transportation solutions while maintaining a dedication to safety and quality service. Read More
In this brief market report, we will take a look at the various asset classes, sectors, equity categories, ETFs, and stocks that moved the market higher, as well as the market segments that defied the trend by moving lower.
Looking for insights into the US markets one hour before the close of the markets on Thursday? Delve into the top gainers and losers of today's session and gain valuable market intelligence.
Billionaire hedge fund manager Bill Ackman posted his investment thesis for Hertz on Thursday, one day after disclosing his fund, Pershing Square, had built a sizable stake in the car rental company.
Hertz Global Holdings Inc (NASDAQ:HTZ) shares are ripping higher Thursday after rallying 56% on Wednesday following reports that Bill Ackman's Pershing Square Capital Management built a sizable stake in the rental car company.
Shares of global car rental company Hertz (NASDAQ:HTZ)
jumped 57.9% in the pre-market session after reports revealed that Bill Ackman's Pershing Square had an even bigger stake in the company, a day after the hedge fund acquired $46.5m of the company's stock. Notably, CNBC reported that Pershing Square's total position was about 19.8%, including shares and swaps, making it the company's second-largest shareholder.
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Let's have a look at what is happening on the US markets before the opening bell on Thursday. Below you can find the top gainers and losers in today's pre-market session.
Avis Budget stock jumped as Bill Ackman disclosed a large stake in Hertz. Investors may view Avis as a strong, more reliable play on rental car recovery.
In a volatile trading session, the stock market experienced significant declines as Federal Reserve Chair Jerome Powell addressed economic concerns. The S&P 500 fell 2.2% to 5,275.70 points.
Hertz Global Holdings shares picked up momentum heading into Wednesday's close and have continued to move higher in after-hours trading. Here's a look at what's going on.
Ackman-led Pershing Square said in a 13-F filing with the SEC that it picked up 12.7 million shares of Hertz, accounting for nearly 4.1% of the company’s outstanding stock.
Shares of global car rental company Hertz (NASDAQ:HTZ)
jumped 28.6% in the pre-market session after Pershing Square Holdings, led by activist investor Bill Ackman, disclosed a $46.5 million stake in the company. This translated to more than 12.7 million shares. This development is noteworthy given that activist investors often bring about significant changes in targeted companies, focusing on improving asset monetization, expense efficiency, and stock buybacks.
