🟢 HTZ is trading 5.7% up today as traders bottom-fish after capital raise and used-car pricing concerns

HTZ is trading at $2.43 (5.7% up) as investors attempt to find a bottom following a multi-day slide of more than 50% triggered by a complex capital raise and weak used-car pricing.

• The recent selloff was driven by the issuance of new secured PIK notes, a share-lending overhang, and significantly slashed Q2 EBITDA expectations.
• While bottom-fishing activity is lifting the price today, overall sentiment remains fragile as the company navigates fundamental challenges and a sharp decline in vehicle residual values.