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Carol Tomé Is The CEO & Director of United Parcel Service, Inc. (NYSE:UPS) And They Just Picked Up 344% More Shares
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Hertz’s Possibly Worthless Equity Soars Amid Recovery Optimism
(Bloomberg) — Hertz Global Holdings Inc. shares are rallying two weeks after the company filed for bankruptcy in an extreme example of the bets investors are making on recovery from the coronavirus pandemic.The car renter’s stock traded as high as $2.92 before the start of regular trading Friday, a 258% surge from Wednesday’s close. Hertz and its rival Avis Budget Group Inc. got a boost Thursday from signs air travel is poised to rebound.Hertz also is likely to benefit from prices of used cars at auctions coming all the way back from a mid-April collapse. Market researcher J.D. Power said Thursday that prices last week were above its pre-virus forecast.Those positives aside, Hertz’s equity holders are still taking on significant risk. Shareholders rarely recover anything from companies that have filed for Chapter 11 because under U.S. Bankruptcy Code, all of a company’s debts must be repaid in full before stockholders recover anything.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Trade Alert: The Independent Chairman of the Board Of Northern Oil and Gas, Inc. (NYSEMKT:NOG), Bahram Akradi, Has Just Spent US$51k Buying A Few More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Northern Oil and Gas, Inc. (NYSEMKT:NOG…
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