Bankrupt Hertz can sell $1 billion in new stock, judge rules - Business Insider

and the company's lawyers cited that volatility as a "unique opportunity" to shore up its coffers.

After the Chapter 11 filing on May 22, shares of Hertz skyrocketed and the stock flew up Robinhood's list of most popular names. However, the newly issued stock will effectively devalue existing shares, sending the stock down in after-hours trading Friday.this week, which it plans to appeal in a bid to keep its shares trading.

Hertz was also seeking to save money by cancelling leases on more than 144,00 vehicles, which could save it up to $80 million.

An expensive lesson learned, for Robinhood traders. Go back to your day jobs.

Didn't Henry Ford make a play like that years ago talking about starting another company installing Edsel?

iamkoshiek dear Mr, what does this even mean?

JCOviedo6 'Car-rental giant Hertz' has been taken over by its creditors, so the this should read 'The creditors of former car-rental giant Hertz' Blame should go where its due. $HTZ

Totally incomprehensible bullshit

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.

'A blow to traders' Really? These people probably couldn't fog a mirror, let alone explain what bankruptcy proceedings look like

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