Avis Budget rose 10.79% in pre

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Avis Budget rose 10.79% in premarket trading, extending a historic rally that has seen the stock surge over 400% in the past six weeks.

Avis Budget Shares Soars 17% to Touch Record High as Short Squeeze Hammers Bearish Bets

Shares of car rental company Avis Budget hit a record high on Tuesday, having quadrupled ‌so far in April, as analysts pointed to a short squeeze that has dealt steep losses to investors betting...

Avis Budget Shares Soars 17% to Touch Record High as Short Squeeze Hammers Bearish Bets

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High short interest makes a stock more vulnerable to a short ⁠squeeze, as investors betting against the company are forced to unwind their positions when its share price rises sharply.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/23a762bae7d31b1da4ed7af02ffc5257\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p>Short sellers have suffered losses worth around $4.09 billion so far this month, with nearly $1.01 billion on Monday alone, when Avis shares jumped more than 23%. Its shares were last up 16% at $705 in morning trading on Tuesday.</p><p>&#34;We believe the parabolic increase of CAR&#39;s share price the past month has been driven almost exclusively by technical factors that have created a wide supply/demand mismatch on the shares with short-sellers facing a sharp squeeze,&#34; Barclays analysts said.</p><p>Avis&#39; shares are ‌heavily owned ⁠by two firms. Hedge funds SRS Investment Management and Pentwater Capital Management together hold more than 25.2 million shares, accounting for more than 71% of total outstanding shares, data compiled by LSEG showed.</p><p>According to a filing earlier this month, Pentwater Capital increased its stake in Avis to more than 7.8 million shares, ⁠sharply shrinking the available float.</p><p>SRS Investment and Pentwater Capital did not immediately respond to Reuters&#39; requests for comment.</p><p>This is not the first time Avis has seen a &#34;meme-like&#34; rally, the shares last experienced a similar surge in ⁠2021. The stock is currently the second-most trending ticker on retail investor forum Stocktwits.</p><p>Barclays downgraded the stock to &#34;underweight&#34; from &#34;equal-weight&#34; on Monday, saying the current stock price is not justified even with ⁠improved fundamentals.</p><p>Deutsche Bank analyst Chris Woronka also downgraded the stock to &#34;hold&#34; from &#34;buy&#34; earlier this month, citing similar reasons.</p><p>Avis in February reported a decline in quarterly revenue and posted a net loss of $856 million for the December quarter.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Avis Budget Shares Soars 17% to Touch Record High as Short Squeeze Hammers Bearish Bets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvis Budget Shares Soars 17% to Touch Record High as Short Squeeze Hammers Bearish Bets\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-04-21 22:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Shares of car rental company Avis Budget hit a record high on Tuesday, having quadrupled ‌so far in April, as analysts pointed to a short squeeze that has dealt steep losses to investors betting against the stock.</p><p>As of Monday, 86.2% of Avis&#39; free floated shares were shorted, data analytics firm Ortex said, just short of an all-time peak of 89.3% recorded in March. High short interest makes a stock more vulnerable to a short ⁠squeeze, as investors betting against the company are forced to unwind their positions when its share price rises sharply.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/23a762bae7d31b1da4ed7af02ffc5257\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p>Short sellers have suffered losses worth around $4.09 billion so far this month, with nearly $1.01 billion on Monday alone, when Avis shares jumped more than 23%. Its shares were last up 16% at $705 in morning trading on Tuesday.</p><p>&#34;We believe the parabolic increase of CAR&#39;s share price the past month has been driven almost exclusively by technical factors that have created a wide supply/demand mismatch on the shares with short-sellers facing a sharp squeeze,&#34; Barclays analysts said.</p><p>Avis&#39; shares are ‌heavily owned ⁠by two firms. Hedge funds SRS Investment Management and Pentwater Capital Management together hold more than 25.2 million shares, accounting for more than 71% of total outstanding shares, data compiled by LSEG showed.</p><p>According to a filing earlier this month, Pentwater Capital increased its stake in Avis to more than 7.8 million shares, ⁠sharply shrinking the available float.</p><p>SRS Investment and Pentwater Capital did not immediately respond to Reuters&#39; requests for comment.</p><p>This is not the first time Avis has seen a &#34;meme-like&#34; rally, the shares last experienced a similar surge in ⁠2021. The stock is currently the second-most trending ticker on retail investor forum Stocktwits.</p><p>Barclays downgraded the stock to &#34;underweight&#34; from &#34;equal-weight&#34; on Monday, saying the current stock price is not justified even with ⁠improved fundamentals.</p><p>Deutsche Bank analyst Chris Woronka also downgraded the stock to &#34;hold&#34; from &#34;buy&#34; earlier this month, citing similar reasons.</p><p>Avis in February reported a decline in quarterly revenue and posted a net loss of $856 million for the December quarter.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAR":"安飞士"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171289178","content_text":"Shares of car rental company Avis Budget hit a record high on Tuesday, having quadrupled ‌so far in April, as analysts pointed to a short squeeze that has dealt steep losses to investors betting against the stock.As of Monday, 86.2% of Avis' free floated shares were shorted, data analytics firm Ortex said, just short of an all-time peak of 89.3% recorded in March. High short interest makes a stock more vulnerable to a short ⁠squeeze, as investors betting against the company are forced to unwind their positions when its share price rises sharply.Short sellers have suffered losses worth around $4.09 billion so far this month, with nearly $1.01 billion on Monday alone, when Avis shares jumped more than 23%. Its shares were last up 16% at $705 in morning trading on Tuesday.\"We believe the parabolic increase of CAR's share price the past month has been driven almost exclusively by technical factors that have created a wide supply/demand mismatch on the shares with short-sellers facing a sharp squeeze,\" Barclays analysts said.Avis' shares are ‌heavily owned ⁠by two firms. Hedge funds SRS Investment Management and Pentwater Capital Management together hold more than 25.2 million shares, accounting for more than 71% of total outstanding shares, data compiled by LSEG showed.According to a filing earlier this month, Pentwater Capital increased its stake in Avis to more than 7.8 million shares, ⁠sharply shrinking the available float.SRS Investment and Pentwater Capital did not immediately respond to Reuters' requests for comment.This is not the first time Avis has seen a \"meme-like\" rally, the shares last experienced a similar surge in ⁠2021. The stock is currently the second-most trending ticker on retail investor forum Stocktwits.Barclays downgraded the stock to \"underweight\" from \"equal-weight\" on Monday, saying the current stock price is not justified even with ⁠improved fundamentals.Deutsche Bank analyst Chris Woronka also downgraded the stock to \"hold\" from \"buy\" earlier this month, citing similar reasons.Avis in February reported a decline in quarterly revenue and posted a net loss of $856 million for the December quarter.","news_type":1,"symbols_score_info":{"CAR":1}},"isVote":1,"tweetType":1,"viewCount":147,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":112,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}