Why Hertz Stock Soared 73% in April

Shares of Hertz Global Holdings (NASDAQ: HTZ) were skyrocketing last month on news that billionaire Bill Ackman, head of Pershing Square Capital Management, had taken a 19.8% stake in the car rental company and longtime laggard on the stock market.Ackman explained his rationale in a post on X, saying that he likes its highly leveraged portfolio of automobile assets and sees it as being undervalued due to an earlier debacle from buying too many Teslas.He argued that more-rational competitive behavior in an oligopoly dominated by three companies, the end of the Tesla issue, a new management team with a promising turnaround plan, and attractive capital structure could generate a significant return on investment. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool