Avis Rises 11% as Second Quarter Is Both Abysmal and Impressive
Shares of Avis Budget Group (NASDAQ: CAR), a vehicle rental company, jumped more than 11% higher early Wednesday, despite dismal operating results during COVID-19, as the company's actions to reduce its fleet size and costs could set the stage for positive adjusted EBITDA for the remainder of 2020. Avis' second quarter is really a mixed bag that contains equal parts dismal and impressive results.