Hertz Stock Tanks 25%

Published June 15, 2020 17 Views

Rumble 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.