Why These EV Stocks Plunged Double Digits This Week [Yahoo! Finance]
Hertz Global Holdings, Inc (HTZ)
Last hertz global holdings, inc earnings: 2/24 04:05 pm
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Source: Yahoo! Finance
One piece of news that hit young electric vehicle (EV) automakers hard was the announcement by Hertz Global (NASDAQ: HTZ) that it will sell a chunk of its EV fleet and reinvest in gasoline-powered vehicles. In response, Lucid Group (NASDAQ: LCID) and Fisker (NYSE: FSR) dropped as much as 17% and 26% this week, respectively, according to data provided by S&P Global Market Intelligence The Hertz move hurts Hertz, one of the world's largest vehicle rental companies, announced it plans to sell a third of its U.S. EV fleet and instead reinvest in gasoline-powered vehicles. Hertz began selling the 20,000 EVs last month and will continue throughout the remainder of 2024. It was a sudden turnaround from Hertz's 2021 stance. Back then, it announced it would buy 100,000 Tesla (NASDAQ: TSLA) vehicles -- Tesla was down as much as 5% for the week -- and the rental company will record a noncash charge of roughly $245 million during its fourth quarter. "The elevated costs associated with EVs
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HTZ
News
- Hertz says it lost another $195M from EV bet [FOX Business Network]FOX Business Network
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Hertz Global Holdings, Inc. - HTZAccesswire
- Hertz Global Holdings First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags [Yahoo! Finance]Yahoo! Finance
- More used Teslas are about to flood the market. [Verge, The]Verge, The
- Why Hertz Stock Plunged Today [Yahoo! Finance]Yahoo! Finance
HTZ
Earnings
- 4/25/24 - Miss
HTZ
Sec Filings
- 4/22/24 - Form 8-K
- 4/9/24 - Form ARS
- 4/9/24 - Form DEFA14A
- HTZ's page on the SEC website