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Why Car Rental Stocks Are Surging Today

TheMotleyFool

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Geopolitical news is providing a lift to the auto rental sector.

Shares of Avis Budget Group (NASDAQ: CAR) and Hertz Global Holdings (NASDAQ: HTZ) each traded up about 20% as of noon ET as investors bet new tariffs on imported vehicles will have a positive impact on their businesses.

A move by the White House to place 25% tariffs on imported vehicles is likely to create a range of winners and losers among automakers and related businesses. The impact, at least in the near term, is to add thousands of dollars to the cost of some automobiles, making alternative options more attractive.

Source Fool.com

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