Why Avis Budget Group Shares Got Crushed on Monday
One of the businesses sustaining the most economic damage from the SARS-CoV-2 coronavirus outbreak is the automobile industry, since "stay in place" mandates have drastically reduced the need to drive anywhere.
This has a bad knock-on effect for the car rental industry. This, combined with an awful earnings report from arch-rival Hertz Global Holdings (NYSE: HTZ) on Monday, is likely what drove Avis Budget Group's (NASDAQ: CAR) stock down by nearly 11% on the day.
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Source Fool.com
