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Thread: Hertz Files For U.S. Bankruptcy Protection

  1. #1

    Default Hertz Files For U.S. Bankruptcy Protection

    Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic

    A large portion of Hertz’s revenue comes from car rentals at airports, which have all but evaporated as potential customers eschew plane travel.
    https://www.cnbc.com/2020/05/23/hert...-pandemic.html


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  3. #2

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    Default Re: Hertz Files For U.S. Bankruptcy Protection

    Carl Icahn holds 38% of Hertz's outstanding shares. Wonder what he thinks about a bankruptcy.

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  5. #3

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    Default Re: Hertz Files For U.S. Bankruptcy Protection

    Volume absolutely through the roof today as HTZ craters 80% from already decimated levels. Everyone that could get a bid unloaded it today.

    htz.JPG

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  7. #4

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    Default Re: Hertz Files For U.S. Bankruptcy Protection

    Just came across the ticker:

    ICAHN SAYS SOLD HERTZ POSITION AT 'SIGNIFICANT LOSS'
    Explains the enormous volume surge a few days ago. Up 136% today on short covering, but anyone who sold this company short on or before 5/22 made $$.

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  9. #5

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    Default Re: Hertz Files For U.S. Bankruptcy Protection

    13D shows loss of $302,167,682 (89%) for one of the world's most high profile investors. Think about that for a moment. This fund has access to all the information you would ever need to make a wise investment choice and it didn't work out.

    “I have been an investor and supporter of Hertz since 2014. Unfortunately because of Covid-19 which has caused an extremely rapid and substantial decrease in travel, Hertz has encountered major financial difficulties and I support the Board in their conclusion to file for bankruptcy protection. Yesterday I sold my equity position at a significant loss, but this does not mean that I don’t continue to have faith in the future of Hertz. I believe that based on a plan of reorganization that includes new capital, Hertz will again become a great company. I intend to closely follow the Company’s reorganization and I look forward to assessing different opportunities to support Hertz in the future.”
    https://www.sec.gov/Archives/edgar/d...da05272020.htm

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