Hertz surges after Bill Ackman takes big stake in rental car firm

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Hertz shares surge more than 50% after Bill Ackman takes big stake in rental car firm
cnbc.com

Shares of Hertz surged 56% on Wednesday after a regulatory filing revealed Pershing Square had built a 4.1% position as of the end of 2024. Pershing has significantly increased the position — to 19.8% — through shares and swaps, becoming Hertz's second-largest shareholder, a person familiar with the matter told CNBC's Scott Wapner.

Jim Cramer still advises that we do not touch Hertz. He is unsure if Ackman can turn this thing around.