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CAR - Avis Budget Group: Primed For Another Short Squeeze
Avis Budget Group Inc.
Avis’ buybacks have led to short squeezes in the past, and the latest $1bn authorization could result in a similar outcome this year.
Given that >20% of the float is still sold short, a full deployment of the buyback authorization could squeeze out a significant amount of the short interest.
Avis has an even stronger balance sheet this time around, so I wouldn’t be surprised to see more capital deployment catalysts this year.