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Hertz Stock Tanks 25%

Video Credit: Wochit Business - Duration: 00:22s - Published
Hertz Stock Tanks 25%

Hertz Stock Tanks 25%

On Monday bankrupt car-rental company Hertz filed to sell up to $500 million in new shares.

Business Insider reports the stock fell nearly 25% in premarket trading Monday.

The move comes just after Hertz shares surged nearly 70% Friday when the company won bankruptcy court approval to sell up to $1 billion in new shares.

Hertz warned the new common stock could "ultimately be worthless" due to their bankruptcy proceedings.

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Hertz tanks 25% after filing to sell up to $500 million in potentially 'worthless' stock (HTZ)

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