Hertz Stock Surges 29% After Bill Ackman's Pershing Square Discloses 12.7 Million Share Stake

15 posts • Grok (Beta)

Updated Apr 16, 2025, 04:33 PM

Hertz Global Holdings Inc. experienced a significant surge in its stock price, rising up to 29% in pre-market trading after Pershing Square Capital Management, led by Bill Ackman, disclosed a substantial stake in the company. The investment firm reported owning 12.7 million common shares in Hertz as of December 31, 2024, according to an SEC filing. Ackman's support for Donald Trump and his critique of harsh trade war measures have been notable in recent headlines. The stake, valued at approximately $46.5 million at the time of purchase, has sparked a notable increase in investor interest in the beleaguered car rental company, which had previously been labeled as a meme stock and lost about 80% of its market value over the past five years. This move by Ackman, known for his activist investing approach, has led to speculation about his strategy and potential influence on Hertz's future direction.

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Sources

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EFN Finansmagasinet

@Finansmagasinet

Rental car giant Hertz rushes after Bill Ackman's hedge fund enters company https://t.co/5hiAAMFIMj

Trevor Scott

@TidefallCapital

Ackman into $HTZ. I think this ends badly. I wonder if his love of the current administration is blinding him to a possible recession. Ton of debt, the rental cars blow up all the time and there is the obvious disruption risk. He's going down the quality curve here!

Bloomberg

@business

Hertz shares soared after Pershing Square Capital Management revealed a large stake in the beleaguered car rental company. https://t.co/VX7h2QvZ5r