Hertz Global Holdings Inc. unveiled a plan on Monday to buy back as much as $2 billion of its stock, a move that would return more capital to investors who stood by the car-rental company through its bankruptcy filing last year.
Hertz shares rose 6% on Monday. The stock has declined since relisting on Nasdaq earlier this month, but is still well above the low levels where it was trading earlier in the pandemic, when Hertz warned shareholders their holdings might go to zero.
