Hertz is trading at $2.06 (5.3% down) today, giving back a portion of yesterday’s sharp rebound as the company continues to face pressure from recent financial and legal developments.
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The stock remains volatile following a late-June earnings outlook cut and a $400 million capital raise conducted through exchangeable notes and equity.
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Sentiment has been further dampened by a shareholder-rights law firm probe into potential securities issues, keeping the stock under pressure despite occasional short-term bounces.