Why Hertz Global Holdings, Inc. (HTZ) Went Down On Wednesday
We recently published a list of These 10 Firms Were Battered by Dismal Earnings, Outlook Guidance . In this article, we are going to take a look at where Hertz Global Holdings, Inc. (NASDAQ:HTZ) stands against other worst-performing stocks on Wednesday.
A lackluster trading persisted on the stock market anew on Wednesday, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year, triggering fears of recession.
Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.
Ten companies also mirrored the wider market downturn, predominantly due to dismal earnings performance and tempered growth outlook for the remainder of the year.
In this article, we have named 10 of the worst-performing stocks on Wednesday and detailed the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A fleet of cars parked at a car rental company's headquarters, symbolizing the company's commitment to servicing its customers.
Hertz Global Holdings, Inc. (NASDAQ:HTZ)
Hertz Global dropped for a second day on Wednesday, losing 7.21 percent to end at $6.82 apiece as investors sold off positions following news that it plans to raise as much as $500 million from debt.
Last week, the company said that it was looking to tap the debt market anew to raise funds for the company’s liquidity and extend the maturity of a revolving credit facility that is set to mature next year.
This is on top of a $6 billion debt already in its books, which similarly includes another $500 million junk bond issued in December last year.
In other news, Hertz Global Holdings, Inc. (NASDAQ:HTZ) said it would announce the results of its first quarter earnings performance on May 12, 2025.
Hertz Global Holdings, Inc. (NASDAQ:HTZ) is one of the leading car rental operators globally. It owns Hertz, Dollar, and Thrifty vehicle rental brands throughout North America, Europe, the Caribbean, Latin America, Africa, the Middle East, Asia, Australia, and New Zealand.
Overall, HTZ ranks 7th on our list of worst-performing stocks on Wednesday. While we acknowledge the potential of HTZ as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HTZ but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock .
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires .
Disclosure: None. This article is originally published at Insider Monkey .