Hertz is trading at $1.97 (+7.07%) as it rebounds from the prior session following a company update regarding financing and revised earnings guidance.
- The move follows a late-breaking update where Hertz cut its second-quarter earnings forecast and announced notes and stock offerings, citing ongoing weakness in the used car market.
- While the financing news initially pressured shares, the stock is currently benefiting from a broader market lift driven by cooler-than-expected inflation data.