Bill Ackmans Pershing Square has accepted a considerable participation hertzThe rental car company that went out of bankruptcy four years ago and triggered a large rally.
Hertz's shares rose by 56% on Wednesday, after a legal registration had shown that the Pershing Square had set up a position of 4.1% at the end of 2024. Pershing has significantly increased the position on 19.8%through stocks and swaps and became Hertz's second largest shareholder compared to CNBCS Scott Wapner.
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hertz
The person said that the Ackman investment company had received an exception to the US security and Exchange Commission to delay the submission of the position by Wednesday, which caused them to accumulate significantly more shares.
Hertz has been a restless company for the majority of the last decade and was confronted with bankruptcy during the Covid 19 pandemic in 2020.
After his appearance from Chapter 11 Insolvency Protection in 2021, the company bet heavily on all -electric vehicles, especially Teslas, which the company cost billions after a significant decline in its residual values.
When reporting on the result of the fourth quarter of 2024 in February, it contained a loss of $ 2.9 billion for the year, which included a loss of $ 245 million in the fourth quarter for the sale of electric vehicles.