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Stock Alert: Hertz Global Shoots Up 101% On Receiving Debt Package To Reorganize

(RTTNews) - Hertz Global Holdings, Inc. (HTZ) shares are soaring on Friday morning as it secured a new $1.65 billion debt package for re-organization. The company plans to use $1 billion for vehicle acquisition and the rest for working capital and general corporate purposes.

Currently, the shares are at $2.09, up 104.42 percent from its previous close of $1.03 on a volume of 270,570,327. For the 52-week period, the shares have traded in a range of $.40 to $20.85 on average volume of 10,078,041.

The car rental company had filed for bankruptcy in May in view of the global recession. It is scheduled to announce the third-quarter earnings on October 22.

Earlier on September 28th, the company had named Kenny Cheung as CFO, succeeding Eric Esper.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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