shares will likely fall to $0, according to Morgan Stanley, leaving the car-rental company's shareholders with nothing.
Morgan Stanley on Monday lowered its base case for shares of Hertz to $0 from $2 after the bankrupt company's plan"We are now more concerned that there is a potential risk of a NYSE de-listing, or potential liquidity shortfall where the company may exhaust available cash to run the business by the end of 2020, potentially leaving the equity with little or no residual claim," said Morgan Stanley analyst Adam Jonas in the Monday note.
after the company declared bankruptcy at the end of May, sending the price skyrocketing. Hoping to capitalize off of the surge, Hertz announced plans to sell as much as $500 million in additional shares and even noted in a regulatory filing that the stock "could ultimately be worthless."
_v_l_ time to buy? 😂
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.
An inside look at Stanford's mental health innovation course - Business InsiderAn inside look at Stanford's one-of-a-kind course on mental health innovation, where students mingle with industry experts and develop business plans aimed at revolutionizing the healthcare industry (by AnikaNayak)
Source: BusinessInsider - 🏆 729. / 51 Read more »
India's GDP likely to rebound to 8.5% in 2022, migrant crisis prevails - 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.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Facebook drops censorship tools for Workplace - Business Insider - 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. So deleteFacbook Ohhhh you can’t because you love being in everyone’s business.... 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »
US banks seek guidance on PPP loan forgiveness - Business Insider - 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.
Source: BusinessInsider - 🏆 729. / 51 Read more »
A corporate executive and single father of 2 shares a day in the life - 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. Do you relize how many single moms just gave you the bird ? Man, if 'wildly popular LinkedIn post' isn't the epitome of an oxymoron...
Source: BusinessInsider - 🏆 729. / 51 Read more »