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Hertz Stock Price Defies Dour Outlook as Shorts Get Squeezed

  • Sellers covering positions boost shares 173% from June low
  • Hurricane demand, rising used-car prices also provide a lift
Updated on

When a company’s stock nearly triples in three months, it usually means management is selling a hot growth story. That doesn’t seem to be the case at Hertz Global Holdings Inc.

While a handful of positive developments have bolstered bulls -- from better prices at the rental counter to a jump in post-hurricane demand -- it’s short sellers who appear to be giving this surge its legs.