Avis Budget stock is soaring thanks to the rental car boom
CNN
Hertz has made a lot of headlines lately thanks to its deals with Tesla and Uber. Wall Street has noticed, too. But rival rental car company Avis Budget is doing even better.
Hertz stock, which currently is listed on Nasdaq's bulletin board and hopes to return to the regular Nasdaq through an initial public offering, is up almost 30% since the company emerged from bankruptcy earlier this year and began trading again in July. Still, that's nothing compared to its rival's stock.
Shares of Avis Budget (CAR) have surged more than 110% since July and are up almost 380% so far in 2021. The company reported its third quarter results after the closing bell Monday. Needless to say, expectations were high — and Avis Budget surpassed them.
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