The Avis Ipo: Buyer Beware
Rent-a-car giant Hertz Corp. went public in April, and for individual investors such as Roland Ott, Hertz has been one dreamy ride. An executive at sairGroup in Zurich, Ott bought 400 shares at the $24 offering price and watched as they soared above $39. In July, when the stock hit a rough patch, Ott sold out, bagging a profit of nearly 50% in 12 weeks. "I was very happy," he says, adding that he may look at Hertz's archrival, Avis Rent A Car Inc., which by October expects to sell stock of its own.
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