Advertisement

Why Shares of Avis and Hertz Are Up Today

Why Shares of Avis and Hertz Are Up Today

Shares of Avis Budget Group (NASDAQ: CAR) soared 29% at the open on Thursday morning after receiving an upgrade from Morgan Stanley. Car sales are holding up better than feared during the pandemic, according to the analyst, and that is good news both for Avis Budget and its bankrupt rival Hertz Global Holdings (NYSE: HTZ). Avis Budget shares gave back some of those gains after the open, but were still up 19% as of 10:30 a.m. EDT.