Why Avis Popped 13% Early Tuesday
Shares of Avis Budget Group (NASDAQ: CAR), a vehicle rental company, jumped over 13% higher Tuesday before giving up some gains in the late afternoon as many transportation and "reopening" stocks rose thanks to vaccine and stimulus hopes. The broader transportation rise also pushed Avis higher Tuesday and almost back to even for the year. It's been a wild ride for Avis investors after the company watched its rental business grind to a near standstill that sent revenue plunging and forced rival Hertz into bankruptcy protection.
