Hertz Global Holdings Inc. has lined up $1.65 billion in financing to carry itself through bankruptcy, sparking a market rally that more than doubled the rental-car company’s share price.
The shares rose as high as $2.86 cents after the company announced the financing package from Thursday’s closing price of $1.03, reflecting the continued interest in Hertz from risk-hungry traders despite its severe financial strain. The stock closed at $2.50 Friday.
Hertz…
This post first appeared on wsj.com
