Channel: Wochit News

Category: News & Politics

Tags: getty imageshertzopentravel alliancestockfinancial economicsequity securitiescorporate finance

Description: On Monday bankrupt car-rental company Hertz filed to sell up to $500 million in new shares. Business Insider reports the stock fell nearly 25% in premarket trading Monday. The move comes just after Hertz shares surged nearly 70% Friday when the company won bankruptcy court approval to sell up to $1 billion in new shares. Hertz warned the new common stock could "ultimately be worthless" due to their bankruptcy proceedings. businessinsider.com/hertz-stock-price-filing-sell-million-new-shares-bankruptcy-worthless-2020-6 wochit.com This video was produced by YT Wochit News using wochit.com