Even Bankrupt Companies Are Going Parabolic in this Market: Hertz Skyrockets 825% in 9 Trading Days — Even Though it Was Explicitly Stated 19 Times by the Court of Delaware in a Recent Company SEC Filing that the Equity Interests Are Completely and Utterly Worthless, Business Insider



https://markets.businessinsider.com/news/stocks/hertz-stock-price-skyrockets-since-filing-bankruptcy-traders-global-holdings-2020-6-1029285231



Source: Tradingview
Source: Tradingview


“We went from $300m a day in revenue to $10m a day.” said Barry Diller, Chairman of Expedia. Read more



May.4th, note holder gives the company an extension until May.22nd


May.22nd: they file for bankruptcy



June.2nd, 2020, at 4:15pm ET, court calls the stock worthless 19 times..(yet share price somehow rises 331.39% 3 days later).



Icahn ownership 3/12/20



(SC 13D/A’ on 5/27/20) “I have been an investor and supporter of Hertz since 2014. Unfortunately because of Covid-19 which has caused an extremely rapid and substantial decrease in travel, Hertz has encountered major financial difficulties and I support the Board in their conclusion to file for bankruptcy protection. Yesterday I sold my equity position at a significant loss, but this does not mean that I don’t continue to have faith in the future of Hertz. I believe that based on a plan of reorganization that includes new capital, Hertz will again become a great company. I intend to closely follow the Company’s reorganization and I look forward to assessing different opportunities to support Hertz in the future.”



2 thoughts on “Even Bankrupt Companies Are Going Parabolic in this Market: Hertz Skyrockets 825% in 9 Trading Days — Even Though it Was Explicitly Stated 19 Times by the Court of Delaware in a Recent Company SEC Filing that the Equity Interests Are Completely and Utterly Worthless, Business Insider

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