Hertz Stock Surges 130% as Traders Buy Post-Bankruptcy
Hertz Global Holdings (NYSE: HTZ), which filed for Chapter 11 bankruptcy protection on May 22 under the pressure of mounting debt payments and a near standstill in revenue generation, soared 84% higher during Thursday's trading session. Its stock price has now more than quadrupled from its opening price Wednesday, and many investors are contemplating pouring money into the volatile stock -- which would likely be a massive mistake. Let's look at what's happening and why Hertz's common stock is not something you want to own.
