Hertz (HTZ) Stock News & Analysis: Ackman’s Big Bet Sends Shares Flying 44%
TLDR
- Bill Ackman’s Pershing Square acquired a 19.8% stake in Hertz through share purchases and total return swaps
- Hertz stock surged 44.31% on Thursday, hitting a new all-time high of $8.74 before closing at $8.24
- Ackman believes tariffs will boost used car prices, potentially adding $1.2 billion to Hertz’s fleet value
- Hertz is transitioning away from high-cost vehicles to reduce depreciation expenses
- Ackman teased a potential partnership with Uber, whose CEO expressed interest in expanding their relationship
Bill Ackman has made a major move into the car rental market. The billionaire hedge fund manager disclosed on Thursday that his firm, Pershing Square Capital Management, now holds a 19.8% stake in Hertz Global…
