That Hertz
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https://www.cbsnews.com/news/hertz-stock-offering-price-bankrupcy/
In the middle of a bankruptcy filing, Hertz’ stock rose 4 folds since the filing. Hertz said it was going to sell 250 million more shares on top of its existing 150 million shares, and its per-share stock price rose some more on the news. All while the bankruptcy math suggests that all shareholders will get wiped out.
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Quibble: Though they theoretically get wiped out, in practice they usually get a pittance because it’s easier for the creditors if the shareholders agree to the resolution.
But they won’t get anything like $3. This is irrational, or there’s something going on beyond what we know about.
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@Axtremus said in That Hertz:
https://www.cbsnews.com/news/hertz-stock-offering-price-bankrupcy/
In the middle of a bankruptcy filing, Hertz’ stock rose 4 folds since the filing. Hertz said it was going to sell 250 million more shares on top of its existing 150 million shares, and its per-share stock price rose some more on the news. All while the bankruptcy math suggests that all shareholders will get wiped out.
Hertz stock price goes from 20 dollars to 50 cents and the news is four fold increase to 2 dollars.
Folks that’s the big picture that is missed in this link. Hahahaha
