Hertz is trading at $2.09 (6.1% up), partially reversing yesterday’s sharp 6.2% drop to $1.97 as the stock attempts to stabilize.
- The move appears to be a technical recovery following recent downward pressure caused by a dilutive 37 million-share offering and a $350 million exchangeable notes issuance.
- There are no fresh company-specific catalysts this morning, with the price action supported by a broadly positive U.S. market backdrop.