Why Avis Budget Stock Is Dropping Friday After Massive Short Squeeze Run

Benzinga_recent_news04-11 00:53

Avis Budget Group Inc (NASDAQ:CAR) shares are tumbling Friday as traders reassess an overheated short squeeze run that pushed the stock into record territory even while the fundamental backdrop stays ...

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It's also 105.7% above the 100-day SMA, indicating the intermediate trend is still pointed up even after Friday's drop.\nThe relative strength index (RSI), a momentum gauge, is 91.90, which signals extreme overbought conditions where pullbacks can accelerate quickly if buyers step back. The RSI first entered overbought territory on 2026-03-31, aligning with the late-stage \"melt-up\" feel of the recent run.\nOver the last 12 months, the stock is up 267.86%, a backward-looking snapshot that matches the stock's position near the top of its $62.21 to $297.98 52-week range. One longer-term caution flag is the death cross in January (50-day SMA below the 200-day SMA), which can linger as a risk marker even when price is ripping higher.\nAnalyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $128.50. Recent analyst moves include:\nCAR Stock Price Activity: Avis shares were down 8.41% at $272.10 at the time of publication on Friday, according to Benzinga Pro data.\nImage: Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2626114693","isCrawlerRequest":true}