‘Nobody Believed People Would Buy Garbage’: Hertz Reimagines What’s Possible In The Age Of Robinhood

‘Nobody Believed People Would Buy Garbage’: Hertz Reimagines What’s Possible In The Age Of Robinhood

Update: Hertz on Wednesday afternoon suspended plans to sell shares "pending further understanding of the nature and timing" of an SEC review, according to a filing The endless tale of Hertz's high-profile bankruptcy and its unlikely starring role in outsized returns logged by retail stock traders, took another turn for the absurd on Wednesday. "In this particular situation we have let the company know that we have comments on their disclosure", SEC Chairman Jay Clayton told CNBC. He was re
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8 thoughts on “‘Nobody Believed People Would Buy Garbage’: Hertz Reimagines What’s Possible In The Age Of Robinhood

  1. In the first decade of my career, as a CPA ( I started with Arthur Anderson- but that is off point), I worked on a lot of IPO’s. The SEC can effectively kill this by endless rounds of comments and never giving approval. This is what should happen.
    If it does not, I will consider buying gold and burying it in my backyard.

  2. I wonder if there are any data on the trafiic on the SEC’s EDGAR site vs. the number of sock transactions in a given time frame. The past few weeks probably mark an all-time low.

  3. In July 2007, Charles Prince told the Financial Times that global liquidity was enormous and only a significant disruptive event could create difficulty in the leveraged buyout market. “As long as the music is playing, you’ve got to get up and dance,” he said. “We’re still dancing.” Nothing new to see here. Move along.

  4. Caveat Emptor. In a free society, one should feel free to be “stupid” but then again, buying penny stocks are reaping a 1000% return may not be all that stupid. Please note the opportunity would not have presented itself if not for the fact that 99% of investors believe it is insane to buy a stock that has declared bankruptcy

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