4 ms·

So basically a couple of finance bros thought they could make a killing by buying Hertz cheap at auction and then doing the old pump and dump with the company.

by JCM9 3y ago

So basically a couple of finance bros thought they could make a killing by buying Hertz cheap at auction and then doing the old pump and dump with the company. Turns out they weren’t actually very good at running a business and made a huge mess of things. While renting cars is sort of a stodgy boring business turns out it’s boring for a reason… because that’s what works.

horns4lyfe 3y ago
But my MBA!
- JumpCrisscross 3y ago
  > But my MBA! Scherr is a lawyer [1]. [1] https://en.wikipedia.org/wiki/Stephen_Scherr#Education https://en.wikipedia.org/wiki/Stephen_Scherr#Education
  - lotsofpulp 3y ago
    This guy is 0 for 2 in the last decade (from Goldman’s disappointment in Marcus and its deal with Apple): > In 2016, Scherr led Goldman Sachs’ launch of consumer banking, branded as Marcus.[3] He also served as CFO during the firm’s launch of AppleCard, in partnership with Apple, Inc., in 2019.[8][9]
epgui 3y ago
This was not a pump and dump, it was merely poor performance.