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Trump's Auto Tariffs Spark Short Squeeze Rally in Hertz And Avis, But Will It Last?

Benzinga LogoBenzinga3d ago

Trump's Auto Tariffs Spark Short Squeeze Rally in Hertz And Avis, But Will It Last? - Benzinga

Quick Summary:

Beaten-down auto rental stocks, Hertz Global Holdings Inc.(NASDAQ:HTZ) and Avis Budget Group Inc.(NASDAQ:CAR) were sent blazing on Thursday following the announcement of new tariffs on all imported vehicles by U.S.President Donald Trump.

What Happened: Shares of Hertz and Avis posted an impressive rally of 22% and 20%, respectively, in intraday trading, in response to the 25% tariffs imposed by the White House on all vehicles that are not manufactured in the U.S.

This explosive rally in auto rental stocks took analysts and investors by surprise, having witnessed steady declines in the sector throughout the past year.

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Article Details

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 09:57:57 (3 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 443 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 27382366

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 7 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #53

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