Hertz Global (OTC:HTZGQ) news for Friday includes the company being delisted from the New York Stock Exchange.
- The company is now listing its stock on the OTC Bulletin Board under the stock ticker HTZGQ.
- This comes after the NYSE determined that HTZ stock was no longer fit to be traded on its exchange.
- The reason behind this is Hertz Global’s ongoing bankruptcy issues.
- It initially filed for bankruptcy on May 22, 2020.
- Hertz Global tried to appeal the delisting decision but the NYSE didn’t change its mind.
- As a result, this is the first day that the stock is officially no longer trading on the exchange.
- This should come as no surprise to investors that were keeping track of the stock.
- Even so, that didn’t stop some investors from buying into Hertz Global stock when it dropped following the bankruptcy news.
- This saw shares of HTZ fluctuate greatly in the months leading up to its delisting.
- A big part of the reason behind this was Robinhood investors scooping up the stock at its low prices with hopes of returns.
- However, investing in a company already going through a bankruptcy isn’t the best idea.
- That’s an easy mistake for novice investors to make as they look for chances to acquire large sums of shares at low prices.
- Hopefully, the delisting of HTZ stock will be a lesson to these traders in the future next time they see low stock prices from a company in bankruptcy.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.