Bankrupt Hertz targets Robinhood traders in plot to dump $1 billion in stock
Failing rental car company Hertz‘s latest Hail Mary might be its most dastardly yet: Exploit newly-found popularity among Robinhood traders to sell $1 billion worth of potentially worthless stock. Hertz, the second-largest car rental firm in the US, filed for Chapter 11 bankruptcy on May 22 citing a global collapse in demand for hire cars. For whatever reason, this sparked a market rally eerily reminiscent of the darkest days of 2017’s cryptocurrency and blockchain boom. On May 26, Hertz stock was worth just $0.56 — by Monday it had multiplied by more than 9-times over to reach $5.54. “The recent market prices…
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