Hertz Shares Surge on Renewed Amazon Partnership Interest

Hertz Global Holdings Inc. saw its stock post significant intraday gains on Friday, climbing more than 5% at its peak. The unexpected rally appears to be fueled by renewed market focus on the company’s existing partnership with Amazon, despite the deal originally being announced back in August.

The equity reached a daily high of $7.11 before settling to close at $6.80, still representing a gain of 0.89 percent for the session. This upward movement coincided with fresh analyst commentary regarding the strategic e-commerce agreement.

Under the terms of the arrangement, consumers in Dallas, Houston, Los Angeles, and Seattle can now purchase and finance pre-owned Hertz vehicles directly through the Amazon Auto platform. The company has not publicly disclosed the specific financial metrics... Read more...