Hertz Stock Soars Tuesday: What's Driving the Action?

Hertz Global Holdings Inc (NASDAQ: HTZ ) shares are surging Tuesday, extending last week’s rally as retail traders continue to focus on the heavily-shorted stock following better-than-expected earnings. Hertz Global Holdings stock is charging ahead with explosive momentum. Why is HTZ stock surging? Retail Traders Target Hertz Stock’s High Short Interest Hertz is the most discussed stock on WallStreetBets over the past 24 hours by a wide margin, continuing a trend that started last week as shares charged higher. According to Pro, 73% of available Hertz shares are currently sold short, meaning most of the stock’s float has been borrowed and sold into the market by traders who expect the price to drop. When a stock with high short interest stages a sharp rally, short sellers can be forced to buy back their borrowed shares to limit losses, which pushes the share price hi...