Hertz Shares Surge 56%
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investment firm Pershing SquareInvestopedia
•Business
Business & Economics
Hertz Stock Soars as Billionaire Bill Ackman's Pershing Square Discloses Stake

77% Informative
Hertz (HTZ) shares soared 56% to close at $ 5.71 Wednesday after billionaire Bill Ackman ’s investment firm Pershing Square disclosed a sizable stake in the struggling rental car company.
Ackman 's investment firm held over 12.7 million shares in the company at the end of the fourth quarter , a roughly 4% stake.
Hertz reported a loss of $2.86 billion in 2024 as the company took a hit from vehicle depreciation and the fallout from its unsuccessful efforts to switch its fleet to electric vehicles.
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