Hertz has been one crazy stock since declaring bankruptcy earlier this month.
It crashed to 40 cents, and then it climbed more than 1,000 percent in a week. It then halved its gains when traders got wise to what was happening. It has seesawed since the company reported that investors would lose their money if they bought any of the $500 million in newly issued stock.
On Thursday, trading was halted on pending news that Hertz would halt the issuance of the proposed shares. It later confirmed that it would terminate the stock sale.
It was down 4.5 percent before the suspension. When trading resumed later in the afternoon, the stock was down more than nine percent.
Are Robinhooders still going to pump up the stock? It should be an interesting next couple of weeks.
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