ORIONS Money Stocks

[Monksdream]

The surging stock price of Hertz Global Holdings after its emergence from bankruptcy Wednesday amounts to a big score for the investor group led by Knighthead Capital and Certares Management that won a bidding contest for the rental-car company in bankruptcy court in May.

Shares of the reorganized Hertz (ticker: HTZZ) closed at $26.99 in over-the-counter trading Thursday, above a price of about $14 implied by the final trade in the old Hertz stock (HTZGQ) of $8.74 Wednesday.

Hertz has also issued new warrants (HTZZW) to buy its stock and they ended the day at $11.95. They look like a cheap play on Hertz relative to the stock.