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Since filing for bankruptcy in late May, Hertz has surged 825%.
That’s not what investors normally expect for a company that declared it can’t meet its debt obligations.
Hertz has surged higher following a steady drip of positive economic data that points to a recovery from the damage caused by the coronavirus.
While retail investors on Robinhood loaded up on the stock, billionaire investor Carl Icahn liquidated his entire stake at 70 cents a share, for a loss of more than $1.8 billion.
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Since Hertz filed for bankruptcy in late May, shares have surged as much as 825%, and are up more than 100% today alone.
That’s not exactly what investors would expect from a company that said it can’t meet its debt obligations.See the rest of the story at Business Insider
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