:max_bytes(150000):strip_icc()/GettyImages-2182625097-e54bca1067b0472ebcb8246002ce1f8d.jpg?w=1920&resize=1920,1267&ssl=1 "Hertz Stock Soars as Billionaire Bill Ackman’s Pershing Square Discloses Stake")
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key takeaways
- Billionaire Bill Acman’s investment firm increased Hz’s shares by 56% on Wednesday after revealing a major stake in the struggling car company.
- Ekman’s Persing Square organized more than 12.7 million shares in the company at the end of the fourth quarter, which is about 4% stake.
- Even with Wednesday’s benefits, the stocks are about 11% less in the last 12 months.
Billionaire Bill Acman’s investment firm Persing Square in HTZ shares increased by 56% at $ 5.71 on Wednesday after revealing a major stake in a struggling rented car company.
According to a regulatory filing on Wednesday, the Persing Square placed more than 12.7 million shares at the end of the fourth quarter at the end of the fourth quarter. Hz did not immediately respond to the remarks request.
Hz reported a $ 2.86 billion defeat in 2024 as the company declined by its unsuccessful attempts to switch its fleet on electric vehicles, among other things from the depreciation of the vehicle. The company’s stock was lost in 2024 close to two-thirds of its value.
Even with Wednesday’s benefits, the stocks are about 11% less in the last 12 months.
Separately, Hz announces partnership with Uve on Wednesday, a step company said “would start advanced AI inspection in its American operations.”
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