Shares of Hertz Global Holdings, Inc HTZ and Avis Budget Group Inc. CAR are taking a ride lower Tuesday following news of comments about European weakness from Avis reps.
The commentary came from a presentation at the Deutsche Bank Leveraged Finance Conference in Arizona. Avis Budget stock is trading at $36.33, down almost 7 percent for the day. Hertz shares, moving in sympathy with Avis, are down nearly 6 percent.
According to Yahoo Finance, Avis Budget and Hertz have traded 74 and 4.6 percent more shares, respectively, than their daily averages.
The company also spoke of positive pricing in North America, which it sees as far outweighing impact from weakness elsewhere.
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