Avis Budget Group's Stock Falls 48% After Short Squeeze Reversal
Avis Budget Group's stock (CAR) fell over 48% on Thursday, continuing its decline after a short squeeze that had previously driven its shares up nearly 600% since March. The reversal occurred as the short squeeze ran out of momentum, with the stock dropping roughly 70% from its recent intraday high. The rally was initially fueled by a large stake acquired by Pentwater Capital Management.
Tickers: $CAR
Topics: Avis Budget Group CAR stock meme stocks short squeeze stock crash