Stock Price Revival
Hertz is one of many stocks that has been on the rise lately. Hertz had filed for Chapter 11 bankruptcy and was dumped by notable investor Carl Icahn. It’s been picked up by many users on Robinhood and other stock trading platforms.
Hertz stock has been performing extremely well that the company was granted the right to sell $1 billion in new shares of worthless stock.
- Hertz saw an upswing of 80% when its stock rose up to highs of $6.25 when it opened at $3.37 in June and saw lows of $3.09.
- Companies such as J.C Penney & Chesapeake who also filed for Chapter 11 bankruptcy have had wild rides. Chesapeake shares went from low teens on June 4th to a high of $77.50 and finishing under $20.
Performing a solid fundamental analysis would point you the other way when doing research into these stocks. Investing in these stocks has been a trend with younger investors. Investors are getting into these stocks to ride the volatility wave to gain a quick profit. Herd mentality and FOMO play a role when new investors come across an uprising stock. Some days you can be lucky and hit it big but with grim looking financials and inflated stock prices based on speculation. On the other hand, losing your money can happen at any moment as the float regresses back to it’s true standing .