Shares of Hertz (NASDAQ:HTZ) are up 13% on Thursday at roughly $6.35, while Avis Budget Group (NASDAQ:CAR | CAR Price Prediction) stock is only up 2% to around $184.50.
Shares of Avis Budget Group (NASDAQ:CAR | CAR Price Prediction) are down roughly 12% in early Wednesday trading after the company released a disappointing Q1 2026 earnings report before market open (BMO).
Avis Budget Group (NASDAQ: CAR | CAR Price Prediction) stock surged from roughly $148 a share on March 27, 2026, to a 52-week high of $847.70 in a matter of weeks, then crumpled back to $182.01 by April 28.
No announcement or breakthrough caused the surge; just a classic short squeeze story involving an artificially-limited float and unbridled risk-seeking behavior.
Avis stock lost nearly half its value in Thursday's daily session despite no major business-specific news. The stock has still more than doubled over the last month despite today's huge pullback.
After an incredible triple-digit runup in just three weeks' time, the rug's suddenly being pulled out from underneath the rally. The sudden and sharp reversal, however, isn't exactly surprising.