Thursday, March 04, 2021 9:56:51 AM
Who wouldn't have liked to buy American Airlines at 25c? Kodak? Who wishes they had bought more Netflix when the "experts" predicted it would be wiped out because of its old model - then it reinvented itself? (I'm well aware that Netflix isn't a formerly BK/ re-organizing co. but its demise was predicted then it soared.)
What my "take" is on this person is that she's been trying to take down the stock by pretending to "help" and preventing trading.
Are naive traders taken advantage of? All the time but more by lying CEO's and management who suddenly dilute or R/S wiping them out.
Shareholder Wipeout: Under the terms of the bankruptcy deal, Hertz will be acquired by Knighthead Capital Management and Certares Management for $4.2 billion, leaving common shareholders with no remaining ownership stake in the company. This type of shareholder wipeout is typical in the bankruptcy process of large public corporations, according to Bloomberg.
“To be clear: HTZGQ is 99% likely to be worth zero – yet yesterday it closed at $1.18, giving it a $185 million market cap,” Tilson said Wednesday.
Tilson said absolutely no sophisticated or institutional investors still owned Hertz stock following the bankruptcy plan news, yet its share price was still above 90 cents as of Wednesday morning. He said the entirety of that $185 million market cap will be lost by “average folks” and on Reddit, Robinhood and other platforms who misinformed or misguided about the situation.
Tilson called on the U.S. Securities and Exchange Commission to restrict trading in bankrupt companies in the future to institutional investors only to help better protect retail traders in the future.
Benzinga’s Take: Tilson has been all over the ridiculous trading in bankrupt Hertz since June 2020, when the stock was trading at $4.18. At the time, Tilson called the stock a “zero” when it gained 115% in a single day even after its bankruptcy filing. Maybe she should just sit back and watch instead.
And Hertz's Euro operations and some businesses aren't even part of the deal.
It's "just money," enjoy it but can't let being upset about losing sometimes get in the way of enjoying your life.
Recent HTZ News
- Hertz Global Holdings, Inc. to Announce First Quarter 2024 Financial Results on April 25th • PR Newswire (US) • 04/08/2024 08:01:00 PM
- Apple & Google in Talks for Gemini AI on iPhone, Nvidia’s GTC Conference Today, and Latest News • IH Market News • 03/18/2024 11:10:46 AM
- Hertz Announces Appointment of Gil West as Chief Executive Officer as Stephen Scherr Steps Down as CEO of the Company • PR Newswire (US) • 03/15/2024 08:30:00 PM
- HERTZ REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS • PR Newswire (US) • 02/06/2024 12:30:00 PM
- US Index Futures Mixed, Oil Prices Edge Higher • IH Market News • 02/06/2024 11:27:43 AM
- Wall Street Highlights: Tesla Cuts Prices in Germany, Interactive Brokers Increases Revenue by 17%, and More • IH Market News • 01/17/2024 11:33:30 AM
- Wall Street Highlights: DocuSign Acquisition Battle, Tesla Berlin Production Halt, and More • IH Market News • 01/12/2024 11:10:50 AM
- Hertz Global Holdings, Inc. to Announce Fourth Quarter 2023 Financial Results on February 6th • PR Newswire (US) • 01/11/2024 12:25:00 PM
- Hertz and EVgo Partner to Offer EV Renters One Year of Special Charging Rates • Business Wire • 11/17/2023 12:00:00 PM
- Friday’s Wall Street Highlights: Enphase Energy, GM, Intel, Sanofi, Masimo, and more • IH Market News • 10/27/2023 11:10:10 AM
- REVENUE OF $2.7 BILLION, NET INCOME OF $629 MILLION AND ADJUSTED CORPORATE EBITDA OF $359 MILLION • PR Newswire (US) • 10/26/2023 11:30:00 AM
- Hertz Names Justin Keppy as Chief Operating Officer • PR Newswire (US) • 10/24/2023 11:30:00 AM
- Hertz Global Holdings, Inc. to Announce Third Quarter 2023 Financial Results on October 26th • PR Newswire (US) • 10/03/2023 02:20:00 PM
- Sportsman’s Warehouse Appoints Paul Stone as Chief Executive Officer and Announces Chair Transition • GlobeNewswire Inc. • 09/26/2023 12:30:00 PM
- Hertz Expanding EV Presence in NYC • Dow Jones News • 09/20/2023 07:19:00 PM
- Hertz and Mayor Adams Launch "Hertz Electrifies New York City" • PR Newswire (US) • 09/20/2023 06:27:00 PM
- Hertz Announces Departure of Paul Stone; Search For New Chief Operating Officer Underway • PR Newswire (US) • 09/13/2023 11:30:00 AM
- REVENUE OF $2.4 BILLION, NET INCOME OF $139 MILLION AND ADJUSTED CORPORATE EBITDA OF $347 MILLION • PR Newswire (US) • 07/27/2023 11:30:00 AM
- Hertz Names Alexandra Brooks as Chief Financial Officer • PR Newswire (US) • 07/26/2023 08:05:00 PM
- Hertz Kicks Off One of the Country's Largest EV Test Drives • PR Newswire (US) • 07/19/2023 06:52:00 PM
- Thursday’s Wall Street Highlights: BofA, Meta, Stellantis, American Airlines and more • IH Market News • 07/06/2023 11:08:35 AM
- Hertz Global Holdings, Inc. to Announce Second Quarter 2023 Financial Results on July 27th • PR Newswire (US) • 07/05/2023 01:10:00 PM
- Tom Brady Reveals All in "Electrifying" New Hertz Ads Featuring Yvonne Orji • PR Newswire (US) • 05/22/2023 01:46:00 PM
- Hertz and Mayor Dyer Launch "Hertz Electrifies Orlando" • PR Newswire (US) • 05/11/2023 08:23:00 PM
- REVENUE OF $2.0 BILLION, NET INCOME OF $196 MILLION AND ADJUSTED CORPORATE EBITDA OF $237 MILLION • PR Newswire (US) • 04/27/2023 11:30:00 AM
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM