Why Avis Budget Group Popped 11% Tuesday
Shares of Avis Budget Group (NASDAQ: CAR), one of the nation's largest vehicle rental companies, are jumping 11% higher Tuesday morning after a bear pulled its rating, investors digested a Hertz (NYSE: HTZ) bankruptcy, and the market cheered a potential vaccine for COVID-19. In the immediate term, as an essential business, Hertz will remain operating and has about $1 billion in cash to support operations.