it plans to warn participants in the upcoming sale that "the common stock could ultimately be worthless."received a delisting notice from the New York Stock Exchange
that cited its bankruptcy proceeding as a reason to halt public trading. The company appealed the notice and requested a hearing to keep its spot on the exchange. While shares will continue to trade hands pending the appeal, the NYSE warned "there can be no assurance ... whether there will be equity value in the Company's common stock," according to aHertz shares have served as ground-zero for an unusual market phenomenon over recent sessions.
Apart from the potential stock offering, Hertz plans to ask the bankruptcy court to cancel leases on 144,372 vehicles. The move could save as much as $80.3 million, the company said.Now read more markets coverage from Markets Insider and Business Insider:
BREAKING WHO says coronavirus situation 'worsening' worldwide COVID19.,
This is retarded. Lol like I have no words to describe this stupidity
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside a $40 million estate on Miami's celebrity-studded Star Island - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Last sold 04/28/2011 for $25,500,000, annual taxes are $460k, overpriced and the payments will kill you before any thief will. BTW there is another house on the island going for $27.9M
Source: BusinessInsider - 🏆 729. / 51 Read more »
Bankrupt Hertz Wants to Sell Up to $1 Billion in New SharesRental-car company Hertz Global Holdings 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. oversubscribed no doubt🤪 OttButcher Only in America! I recall General Motors has been declared bankrupt several times. American company names never dies, but the ignorant investors does. This is an immoral capitalist sham and scam.
Source: WSJ - 🏆 98. / 63 Read more »
Bankrupt Hertz Seeks Permission To Raise $1 Billion In Preposterous New Stock SaleHertz Global Holdings asked the court overseeing its Chapter 11 bankruptcy reorganization to authorize a stunning plan to raise $1 billion by selling 246.8 million new share GregMannarino might as well, right Gregory? Thanks, Yellowstain! I’d like 15 blocks short Its hertz ya, let me share
Source: Forbes - 🏆 394. / 53 Read more »
Hertz is looking to raise $1 billion in a share sale to capitalise on its almost 1000% market rally in the days since filing for bankruptcy | Markets InsiderHertz is looking to raise $1 billion in a share sale after its bankruptcy, the Wall Street Journal reported Thursday. The car rental company is ... Nuts!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Vaccine maker Vaxcyte's shares soar 22% in trading debutShares of Vaxcyte Inc. undefined soared 22% in their trading debut Friday, after the company's IPO priced at the top end of its price range, and was upsized... Sheer speculation. As is much of stock market right now. And protected by the Fed.
Source: MarketWatch - 🏆 3. / 97 Read more »