Hertz Stock Tanks 25%
On Monday bankrupt car-rental company Hertz filed to sell up to $500 million in new shares.
Business Insider reports the stock fell nearly 25% in premarket trading Monday.
The move comes just after Hertz shares surged nearly 70% Friday when the company won bankruptcy court approval to sell up to $1 billion in new shares.
Hertz warned the new common stock could "ultimately be worthless" due to their bankruptcy proceedings.
https://www.businessinsider.com/hertz...
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