Hertz Stock Plunges 11% More After 41% Crash on Bond Sale and Weak Earnings
Updated
Updated · Bloomberg · Jun 25
Hertz Stock Plunges 11% More After 41% Crash on Bond Sale and Weak Earnings
3 articles · Updated · Bloomberg · Jun 25
Summary
Hertz shares fell another 11% on Thursday, extending a rout that already erased 41% on Wednesday.
The selloff followed Hertz's announcement of a concurrent stock issuance and bond offering, alongside preliminary earnings that missed analyst expectations.
That two-day slide puts the rental-car company's stock on course for its biggest weekly decline since it re-listed in 2021 after emerging from bankruptcy.
The drop marks a record-setting rout for Hertz shares, with financing plans and disappointing results combining to hammer investor sentiment.