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Hertz Pauses After Three-Day Rally Sent the Stock Surging 577%

Photographer: David Paul Morris/Bloomberg

A head-scratching rally in the shares of Hertz Global Holdings Inc. lost some steam on Tuesday, sending the stock lower for the first time in four trading sessions.

The struggling car-rental company quickly tumbled 39% in the first 15 minutes of trading, then rallied back briefly for a 4.9% gain. The stock is now down 7%, a direction that’s in line with what professional investors have come to expect from the shares of a company that’s filed for bankruptcy protection.