HTZ is trading 6.1% up today at $2.17 as investors reassess the stock following a sharp selloff triggered by lowered guidance and used-car market softness.
- The recent decline was driven by late-June warnings regarding higher vehicle depreciation losses and a reduction in Q2 adjusted EBITDA guidance.
- Shares are bouncing back from the low-$2 range after heavy short interest and selling pressure pushed the stock to recent lows.
- Today's move appears stock-specific as broader market indices remain mixed.