A bankruptcy judge on Friday allowed Hertz Global Holdings Inc. to raise new equity from a counterintuitive stock rally while under severe financial strain.
The car-rental company hopes to raise up to $1 billion in new equity, a seemingly unprecedented move from a large bankrupt company eager to capitalize on market anomalies.
Dead meat still can make money 😂
Pure corruption
Public markets. Gimme a break. There are no markets. Just frauds and scams.
Huh? How does that work?
I’m happy Ichan took a beating
The GoFundMe for Hertz doing well.
ewarren Congress should ask the SEC about this.
Company Bankrupt Bankers Morally Bankrupt.
WOW
NorthmanTrader RiskReversal timseymour GuyAdami
Nothing better then risking a ton and being right :)
If the current owners of their stock becomes worthless why should they be able to sell more stock?
Why should you be prevented from fleecing investors like everyone else just because your stock is likely to become totally worthless in Chapter 11?
Hum they will go bankrupt again
Traders are going to play this fiddle and fleece the sheep. Best of luck to the sheep.
🍿 🥤
Crazy times
So they are going to sell stock that will become worthless in bankruptcy? I’m confused.
It's a whole new business model! Selling worthless stock to clueless millennial traders!
How inefficient can the market currently be to allow this?
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Bankrupt Hertz can sell $1 billion in new stock, judge rules - 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. 'A blow to traders' Really? These people probably couldn't fog a mirror, let alone explain what bankruptcy proceedings look like Hertz Avis Enterprise But you want to sell cars above Kelly Blue Book value? Your greed will be the end of you. If you want to make money, you need to make the cars you are selling VERY affordable. Totally incomprehensible bullshit
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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.
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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
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