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Why Hertz Global's Stock Is Up 90%

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Why Hertz Global's Stock Is Up 90%

Hertz Global (NYSE: HTZ) shares are trading higher on Friday after the company announced it secured commitments of $1.65 billion in debtor-in-possession financing.

Hertz Global Holdings Inc operates an automotive vehicle rental service through the Hertz, Dollar, Thrifty, and Firefly brands. The company offers cars, crossovers, and light trucks for rent; ancillary products and services; rental of industrial, construction, and material handling equipment; and fleet-leasing and fleet-management services.

The company operates a network of car rental locations and licenses its brands to associates and franchisees. The highest segment by revenue is the U.S. car rental unit.

Hertz Global shares traded up 97.57% to $2.04 on Friday. The stock has a 52-week high of $20.85 and a 52-week low of 40 cents.

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