Correct. Snake oil is intrinsically bad. We all agree it's bad, and thus, nobody is allowed to sell it, even if they disclose that it is snake oil. But Hertz

Correct. Snake oil is intrinsically bad. We all agree it's bad, and thus, nobody is allowed to sell it, even if they disclose that it is snake oil. But Hertz shares are apparently not bad. We're clearly happy to see people buying and selling them. Before, during, and well after Hetz's abortive at the money offering, thousands and thousands of people were selling Hertz shares, and I haven't seen anyone suggest they should have been prevented from doing so. In fact, it seems like the only entity we, as a society, seem to feel shouldn't be allowed to sell Hertz shares is Hertz. Which would be really strange if Herz shares were, metaphorically, radioactive, no?