But the last time the shares were available to short the stock went up. Just something I noticed this morning could be a sign that the brokers know something and want to trap new shorts.
I hope so but moves before news always make me nervous. Possibly someone has leaked a portion of the findings. 10 am the stock will be all over the place I believe.
I'm not short but when I see bidding like this an hour plus before the news I usually expect a reversal. I hope I'm wrong but this smells of that scenario. On the other hand possibly some of the news has leaked out and this is just the early squeeze to a bigger move to $35. We will see in an hour.
Hertz finds all kinds of reporting irregularities or even criminal activity for the years 2011-2014 is they should absolutely go after the prior execs for not only claw backs but possible prosecution. You can bet the lawyers will be waiting to look over the re-statements too.
This is a good thing it will get them off their #$%$. They have until September 17th, 2015 to meet the listing requirements and they stated they are planning to have their restatements for the past 4 years no earlier than mid 2015 which is already known. At least this hopefully prevents them from delaying their results even longer which they are absolutely capable of.
This falls on past and current management. I would guess as long as they can skim on the gas that customers leave in the tanks and the BS insurance they sell them everything is OK.
Are the accountants still sharpening their pencils? The only one who will benefit from this whole fiasco will be the firm doing the audit when they submit their bill for two years worth of "work".
This stock cannot get out of it's own way especially tied to the hip of Baba's last disappointing results. Possibly she may acquire a grocery chain for billions as a tuck in. That sector is actually doing pretty good.
Markets get tired of waiting dollars are looking for returns not excuses. I am surprised Icahn has been quiet this long. I will bet at this moment when the results from their audits are supposed to be out Hertz will delay it again. This time delay is mind-boggling.
What to sharpen the pencils of the High School accountants they are using. When does this audit get done? I cannot believe Icahn has been silent this long even with his people on board. I have never in all my years of trading and investing seen anything like this.
Whether you theory turns out to be true the market is attempting to calculate the hit to earnings in the short run combined with the legal liability if there actually turns out to be an amount associated with their actions and/or products. The ironic part of the more recent lawsuits is not that the lawyers are going after the company but instead they are going after the executives for possible insider trading based on the amounts of stock they sold some time ago right before the importing of the illegal wood news came out. At some point their business will get back on it's feet but for now there is a stigma attached to their products whether justified or not.
Farts jokes are never not funny.