Oct. 29th court confirmation-of-financing-is-here=catalyst:Hertz also filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware. Up to $800 million can be used for working capital and general purposes but the financing is still subject to final definitive documents. There’s also a hearing scheduled for October 29, 2020. Given the sentiment in the market late last week, Hertz stock traders took this as a big positive with shares soaring to highs not seen since June. Given that this isn’t officially finalized yet, will HTZ stock be on your list of penny stocks to buy or avoid this week?
Confirmation a no-brainer: no interference from courts or SEC/ FINRA this time. New Chief FO, protocols. Shady, self-serving characters who took advantage to reward themselves replaced-shut down from within.
I might grab some Jan 2022 Calls on Monday ... higher return than straight stock and should give ample to to rebuild just incase this court date doesn’t make it pop ... watching this one for now.
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