Bankruptcy could wipe out Hertz stock, but the car-rental company is looking to sell up to $1 billion in shares
Rental-car company Hertz Global Holdings Inc. wants to capitalize on the rally in its stock seen earlier this week by selling up to $1 billion in shares, despite a bankruptcy that threatens to wipe them out.
Hertz’s shares rose to $5.53 earlier this week, a nearly 10-fold increase over their closing price of 56 cents following the company’s May 22 bankruptcy filing.
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