Avis Budget Shares Drop Amid Short Squeeze Unwinding and JPMorgan Rating Cut
Avis Budget Group (CAR) shares fell 9% on Thursday, continuing a sharp decline after a 38% drop in the previous session, as a short squeeze unwound and JPMorgan downgraded the stock. JPMorgan analyst Ryan Brinkman cut the rating to Underweight but raised the price target to $165, citing potential capital market opportunities despite concerns over overvaluation.
Tickers: $CAR
Topics: analyst opinion market volatility rating downgrade short squeeze stock price decline