Hertz shares surge 50% after Bill Ackman's Pershing Square discloses a stake

Hertz was an early meme stock.

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• Hertz shares surged 56% after Pershing Square disclosed it acquired a 4% stake in the company.
• Hertz was the original meme stock — its shares soared post-bankruptcy filing in 2020.
• After Hertz emerged from bankruptcy protection, it invested heavily in EVs. It later backtracked on the move.

Share prices of Hertz surged 56% after billionaire investor Bill Ackman's...