Avis Budget Group Stock Drops 62% as Short Squeeze Reverses
Avis Budget Group (ABG) stock fell over 62% in two days as a short squeeze reversed, with trading halted due to volatility. The stock had previously surged 600% from late March lows but now stands at around $417. Short sellers gained $2.8 billion from the selloff, offsetting earlier losses.
Topics: Avis Budget Group market volatility short squeeze stock price drop trading halts