Avis Budget Group Stock Drops 40% After Unwinding of Historic Short Squeeze
Avis Budget Group (CAR) stock fell 40% in a single day after a historic short squeeze unwound, with the stock dropping from around $864 to approximately $264. The volatility was driven by extreme options trading and high implied volatility, leading brokers to consider raising margin requirements to 100% to mitigate risk. The event highlights the extreme leverage and speculative nature of the stock.
Tickers: $CAR
Topics: Avis Budget Group margin requirements market volatility options trading stock crash