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home / news releases / CAR - Hertz: The Tesla Pain Continues

CAR - Hertz: The Tesla Pain Continues

Avis Budget Group Inc.

2024-03-19 21:07:23 ET

Summary

  • Hertz shares hit a new 52-week low due to a bad bet on electric vehicles.
  • Falling values for used Tesla vehicles and rising interest costs are impacting profitability.
  • Hertz trades at a much higher valuation than peer Avis, despite being in worse shape currently.

One of the worst performing stocks in the markets in recent quarters has been Hertz Global Holdings ( HTZ ). The rental car company has seen its shares lose more than half of their value over the past year, hitting a new 52-week low on Monday morning after news that its CEO had resigned . Unfortunately for shareholders, there still seems to be some more headwinds in the near term, primarily related to the company's bad bet on electric vehicles....

For further details see:

Hertz: The Tesla Pain Continues
Stock Information
Company Name: Avis Budget Group Inc.
Stock Symbol: CAR
Market: NASDAQ
Website: avisbudgetgroup.com
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