Avis Budget (CAR) Surges 23% Amid Short Squeeze Despite 'Sell' Rating
Avis Budget (NASDAQ:CAR) surged 23.27% to $608.80 on Monday despite a 'sell' recommendation from Barclays, driven by a short squeeze. The stock is highly shorted, with 20% of its float sold short, and has gained 374% year-to-date. Barclays cited a 'supply-demand mismatch' and uncertainty about the sustainability of the rally.
Topics: analyst recommendation Avis Budget Barclays short squeeze stock price movement