Why Hertz Stock Just Dropped 12%

Investors in Hertz Global Holdings (NYSE: HTZ), which filed for Chapter 11 on Friday but then doubled its share price on Wednesday, are getting thrown for another loop this morning.

In early trading -- at 10:10 a.m. EDT -- Hertz stock is down 12.2% on news that activist investor Carl Icahn has just sold his entire stake in Hertz.

Image source: Getty Images.

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Source Fool.com