Hertz — The original meme stock — is turning out to be worthless (Bloomberg)


TL;DR: Hertz is probably the original meme-stock from last year. Hertz declared bankruptcy, and then for some reason, memers decided to buy the company anyway. Hertz jumped on the opportunity, issuing a secondary offering and raising $29 million before the SEC jumped in and declared the whole mess to be a bad idea.

As expected: those poor retail suckers who gambled $29 million on this bankrupt company are getting $0 now.


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