Hertz stock plunges 30% after report saying bankruptcy filing is imminent

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Shares of Hertz Global Holdings Inc. fell more than 30% in the extended session Friday after The Wall Street Journal reported the car-rental company’s bankruptcy could come as early as Friday night. Hertz has failed to reach a deal with top lenders, the newspaper reported, citing people familiar with the matter. Nationwide restrictions on travel put in place to curb the spread of the coronavirus have hit Hertz and other travel-and tourism-related businesses hard, and Hertz has missed debt payments and reportedly had hired advisers to try to negotiate its debt. Shares of Hertz ended the regular trading day down 7.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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