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Hertz Stock Is Rallying as Its Exit From Bankruptcy Nears. Here’s Why.

·4 min read
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.