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Hertz Trading Volume Plummets 62.48% to 458th Position Despite Bill Ackman's Stake
Generated by AI AgentAinvest Market Brief
Wednesday, Apr 23, 2025 7:58 pm ET1min read
On April 23, 2025,
Holdings Inc. (HTZ) experienced a significant decline in trading volume, with a total of 2.31 billion shares traded, marking a 62.48% decrease from the previous day. This drop in volume placed Hertz at the 458th position in terms of trading volume for the day. The stock price of Hertz also decreased by 0.53%.Hertz has been under scrutiny from analysts, with Jim Cramer maintaining an Underperform rating on the stock and setting a price target of $2.70. This rating reflects a cautious outlook on the company's performance and potential for growth.
Bill Ackman, a prominent investor, recently disclosed that his investment firm, Pershing Square, had acquired a 4.1% stake in Hertz. This
led to a surge in the stock price, as investors reacted positively to the news of Ackman's involvement. The significant stake taken by Pershing Square suggests confidence in Hertz's future prospects and potential for recovery.
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