Hertz Stock Tanks 25% on Harsh Truth
Shares of Hertz (NYSE: HTZ), a vehicle rental company in the middle of the bankruptcy process, tanked 25% lower early Monday morning as investors heard the harsh truth of its business reality from the company itself.
It's one thing for articles and pundits to tell you that shares of Hertz are likely going to end up worthless, and it's another thing to hear that from the company itself. That's the reality that hit investors once again Monday when Hertz filed a Form 8-K that reported some harsh truths to potential investors as the company aims to offer up to $500 million in new shares to take advantage of the speculative rise in share price since its May 22, 2020, bankruptcy filing.
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Source Fool.com
