Barrons.com
Hertz Stock Is Rallying as Its Exit From Bankruptcy Nears. Here’s Why.
(HTZGQ) shares have been rallying amid investor enthusiasm for the rental-car company ahead of its planned emergence from bankruptcy on June 30. Investors appear to be attracted to Hertz because of strong rental-car pricing, a discounted valuation relative to rival (CAR) (ticker: CAR), and expectations that the company will have greater financial and operational flexibility once it exits bankruptcy. Hertz shares (HTZGQ) rose 23 cents, or 3%, to $7.91 on Tuesday after hitting a new 52-week high of $8.89.
