3 ms·
One can very well argue that Hertz played the market correctly. Not the actual rental market, but the stock market. How many investors propped up Hertz's stock
by dragontamer 3y ago
One can very well argue that Hertz played the market correctly. Not the actual rental market, but the stock market.
How many investors propped up Hertz's stock price and bought into Hertz with those announcements? How many $Billions did Hertz raise (aka: take from those investors) as they did this? Would Hertz have been able to take money from investors if they didn't play on the EV hype?
https://www.prnewswire.com/news-releases/hertz-announces-pricing-of-upsized-public-offering-of-common-stock-by-selling-stockholders-301419120.html https://www.prnewswire.com/news-releases/hertz-announces-pri...
HTZ sold all of these stock at $29 per share. Given the stock price of HTZ now at $8.5ish, that's basically $20.5 of free money they extracted from every share over the last few years.