Hertz Global Holdings, Inc Common Stock (HTZ)
Hertz Global Holdings, Inc. is a leading provider of vehicle rental and leasing services worldwide. Founded in 1918, the company offers a diverse fleet of cars and trucks for both leisure and business customers, along with fleet management services. Hertz operates through a broad network of locations across multiple continents, serving travelers, corporations, and commercial clients. It is known for its extensive global presence and emphasis on innovative mobility solutions.
Company News
Morgan & Morgan is representing customers in a mass legal action against Hertz and its brands over a data breach that exposed customer personal information during a cyberattack by the CL0P ransomware group in late 2024.
Hertz will sell used rental cars on Amazon's Autos website in four metro areas, potentially expanding its retail business and diversifying revenue streams while addressing challenges in its core rental business.
Bill Ackman's Pershing Square fund has acquired a significant stake in Hertz, surprising investors. The move is seen as a vote of confidence in the company's future potential, despite its troubled past.
Rental car companies are scaling back plans to buy electric vehicles (EVs) as they find them hard to resell at a decent price. This is due to Tesla lowering prices on new models, leaving rental companies scrambling to resell EVs at deep discounts.
