Why in the World Is Hertz Stock Soaring 130%?

Shares of Hertz Global Holdings (NYSE: HTZ), a vehicle rental company that recently filed for bankruptcy protection, are soaring more than 130% Friday after a positive May jobs report and optimistic news from the airline industry that suggests the worst is over. However, investors must read and understand Hertz's current situation.

Yes, there's reason for the broader transportation sector to be optimistic, as the May jobs report noted a 2.5 million-entry increase in nonfarm payrolls compared to the expected 7.5 million loss. Further, American Airlines Group said Thursday that it plans to boost flights by 74% next month, giving many investors a signal that it could be time to scoop up shares of beaten-down transportation stocks if the worst of the COVID-19 impact is behind us.

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Source Fool.com