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Hertz stock price soars 68% on plan to sell $1 billion in new shares - Business Insider

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Hertz spikes 68% after revealing plan to sell up to $1 billion in stock that could 'ultimately be worthless'

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:

 

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This is retarded. Lol like I have no words to describe this stupidity

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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
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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!
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