Avis stock more than doubles after strong earnings show no end to rental car boom
CNN
Avis Budget investors didn't really need to try harder to make any money from the stock on Tuesday. The rental car company's shares more than doubled after Avis Budget reported strong earnings Monday evening that easily topped Wall Street's forecasts.
The stock was up as much as 218% at one point and was up "only" 125% in late morning trading Tuesday. It was halted several times because of volatility. Avis Budget (CAR) is now up about 1,200% this year.
Avis Budget, along with rival Hertz, has benefited from a resurgence in leisure and corporate travel this year as millions of Americans have gotten vaccinated for Covid-19 and begun to take vacations and go on business trips again.
The Trump administration has signaled to the Smithsonian Institution that the White House could withhold federal funding from the museum organization if it does not comply with the administration’s unprecedented, sweeping review.
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