Why Hertz's Shares Are Soaring Today Amidst Meme Stock Comeback
Why Hertz Stock Is Higher Today
The rental car giant's shares are reliving a bit of their 2021 glory today. But recent troubles don't inspire confidence in the rally. Hertz and BP had grand plans for EVs and charging not long ago. But the rental car giant has lately retreated from its EV ambitions, citing high costs.
Shares Moving Higher Amid Meme Stock Revival
Shares of Hertz Global Holdings (NASDAQ: HTZ) were moving higher on Monday amidst a revival of investor interest in the so-called meme stocks. As of 11:30 a.m. ET, Hertz's shares were up about 12.3% from Friday's closing price.
EV Retreat Challenges Hertz Despite Surge
Hertz's recent decision to dump thousands of electric vehicles due to high costs and lack of customer interest has impacted its recovery journey. The company's nostalgic rally today may face challenges as market dynamics evolve.
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