|Bid||0.0000 x 45100|
|Ask||0.0000 x 29200|
|Day's range||1.6600 - 1.9900|
|52-week range||0.4000 - 20.8500|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||-0.00|
|Earnings date||02 Nov 2020 - 06 Nov 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||20.00|
The New York Stock Exchange (NYSE), owned by Intercontinental Exchange (NYSE: ICE), announced that the staff of NYSE Regulation has suspended trading of Hertz Global Holdings (NYSE: HTZ). The NYSE will now file a delisting application with the Securities and Exchange Commission. Delisting is widely viewed as a negative development, and that is certainly true in Hertz's case.
Does the October share price for Herc Holdings Inc. (NYSE:HRI) reflect what it's really worth? Today, we will estimate...
Let me be clear that in all likelihood, these Hertz shares will end up worthless, but until the company is delisted or bankruptcy negotiations are complete, the stock will be subject to wild volatility. Currently, some traders are speculating that the stock could receive a near-term boost tomorrow if Hertz's proposed debtor-in-process (DIP) financing worth roughly $1.65 billion is approved by the U.S. Bankruptcy Court. Remember: The company is deemed an essential business, and as such is operating on its cash on hand while the bankruptcy process plays out, rather than shutting its doors when it originally filed for bankruptcy in May.