Hertz' Own Lawyer Admits Stock Price "Disconnected From Fundamentals," Will Go Ahead With Stock Offering Anyway
June 13, 2020 at 15:26 PM EDT
On Friday, a bankruptcy judge approved Hertz' attempt to sell up to $1 billion in stock. The bankrupt company was taking advantage of speculators who have sent the stock as high as $6/share, knowing there is no chance that the stock will have value.