The Hertz share $HTZ (-4,72%) rose sharply after it was announced that star investor Bill Ackman and his hedge fund Pershing Square had built up a significant stake in the car rental company. Market observers see Ackman's investment as a strong signal of renewed confidence in the company, which has recently struggled with weak demand and challenges with its e-car fleet. The investment could initiate a strategic realignment and provide new impetus for the management.
The news is based on what I personally consider to be reputable sources. No investment advice. Follow me for more updates!