HomeInvestingOptionsHertz (HTZ) Repurchase Announcement Drives Shares Up
Hertz (HTZ) Repurchase Announcement Drives Shares Up

Hertz Global Holdings (HTZ) is the subject of today’s FOMO segment. In this segment Alex Coffey and Jenny Horne discuss the rental car company and their new $2 billion share repurchase program. Jenny looks at shares of Hertz (HTZ) which climbed after Wednesday’s repurchase announcement. Jenny and Alex discuss the previous buyback program from last November. With about $200 million remaining under the previous buyback program, Hertz (HTZ) said it can now repurchase up to $2.2 billion worth of its stock, representing around 31% of its current market cap of $7.1 billion. Finally Alex demonstrates an example trade using shares of Hertz (HTZ) which were trading ~ $18.5 Wednesday afternoon, that’s down ~ 32% from a year ago.

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