Hertz and Avis Experience 7% Drop as Car Rental Short Squeeze Momentum Slows
Hertz (HTZ) and Avis Budget Group (CAR) both fell 7% as the car rental sector experienced a pullback following a significant short-squeeze rally. The decline suggests the momentum from the short squeeze may be waning, with both stocks trading well above analyst targets. Avis saw a 308% surge in recent weeks, while Hertz rose 80%.
Topics: Avis Budget Group car rental industry Hertz short squeeze stock price decline