Before there was GameStop, there was Hertz: a seemingly pandemic-stricken old brand aimed at the junk that has become Inexplicably loved by the hordes of daily trade. Of course, no two cases are exactly the same, and there were some major differences here, namely that unlike GameStop, there was no good reason to believe Hertz was doomed anything except that he was doomed to failure. she did not have Inspiring investor with a transformation plan, It was going to be Delisted from the New York Stock Exchange And, yes, it was busty. But the people who run Hertz have the guts to do what GameStop leaders do did notAnd who was throwing their hands in the air and saying, “Do you want to buy this stock? Here, She has as many of them as she wants. ”
In doing so, of course, Hertz had to state that people who were eagerly buying around $ 2 per lot would eventually be roughly the same amount less once they settled bankruptcy, which is the SEC’s reason. She politely asked to stop selling it. this means Today These seemingly illiterate investors are only overseas $ 29 million Instead of $ 500 million.
Under Hertz’s restructuring proposal, the shareholders will not receive any dividend, which means they will not receive any refund from the proposed deal … In the trading session that followed Hertz’s bankruptcy protection application, the shares collapsed to 56 cents. Then they jumped above $ 5.50 after less than two weeks – a nearly 900% rally. But in the following days, stocks tumbled. They have since traded largely below $ 2 this year before finally dropping below $ 1 on Wednesday.
According to sources, Melvin Capital, which was previously betting heavily on the video game retailer, saw a return of 21.7% in February. The fund fell 53% in January during the short, dramatic squeeze that sent GameStop and other stocks higher.
That’s nice for Steve Cohen and Ken Griffin. Anyway, while we were doing our GME “Where Are They Now,” Where are the people who gave us GameStop (The Hertz) crowd stories in the first place? Why, mostly Appropriately named Place.
Rocket company stocks … came under pressure after rising more than 70% on Tuesday on their best day ever with no clear news. Rocket is one of the names most sold short by hedge funds, with nearly 40% of its available shares sold short, which could make it attractive to the Reddit trading audience.
What time is right to be alive.
Hertz shares fell as the exit plan threatened bankruptcy and wipe out shareholders [WSJ]
Sources say Melvin Capital’s publications returned more than 20% in February [CNBC]
Rocket companies’ shares are down 30% after a surprising, irrational 70% appearance in the very short name [CNBC]