Hertz shares soar as Ackman's fund boosts stake

Car rental firm Hertz HTZ.O shares rise 28.4% to $7.33 premarket, following a 56% jump in prior session

Ackman's Pershing Square Holdings builds stake in co

The investment advisory holds a 19.8% stake in HTZ, through shares and swaps, according to CNBC, making it the second largest shareholder
The billionaire investor's fund drops nearly 14% so far this year

Hertz holds a trailing 12 month PE ratio of -0.95 vs industry median of 4.69

17.96% of HTZ's float was sold short as of March 31, 2025, according to data complied by LSEG

YTD, stock has risen 56% vs 10.3% fall in the S&P 500 index .SPX