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Why Avis Budget Group Gave Up 29% in the First Half of the Year

TheMotleyFool

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Why Avis Budget Group Gave Up 29% in the First Half of the Year

Shares of Avis Budget Group (NASDAQ: CAR) pulled back through the first six months of the year. The rental car company was one of many travel stocks hammered by the COVID-19 pandemic. Rival Hertz (NYSE: HTZ) was even forced into bankruptcy.

According to data from S&P Global Market Intelligence, the stock fell 29% through the first half of the year. As you can see from the chart below, Avis Budget has taken investors on a wild ride in 2020.