Shares of Hertz Global Holdings Inc. (HTZ) soared 25% in active premarket trading Monday, to add to the recent rocket ride higher in which the stock has more than tripled in two days. The stock is set to open above May 22 closing price of $2.84; after that close, the car rental company filed for bankruptcy. The company hasn't released any material news the past two sessions, while the stock shot up 8.8% on Thursday on volume of 268 million shares and ran up 71.3% on Friday on volume of 342 million shares. The company did not immediately respond to a request for comment or information. Meanwhile, filings with the Security and Exchange Commission showed that Director Henry Keizer sold 7,438 shares of common stock on Thursday, Director Daniel Ninivaggi sold 3,000 shares on Friday and Joseph McPherson, Executive Vice President of North America Operations, recently sold 11,865 shares. Shares of rival car rental company Avis Budget Group Inc. (CAR) has rallied 32.5% over the past three sessions, amid signs that travel demand has been steadily improving ( ). Meanwhile, the Dow Jones Industrial Average soared 1,728 points, or 6.8%, amid a 5-day win streak through Friday.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 08, 2020 08:57 ET (12:57 GMT)
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