Hertz’s quirky stock gives retail holders $5 edge over insiders ...Qatar

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Hertz’s quirky stock gives retail holders $5 edge over insiders
How long can retail day traders be right about the value of Hertz’s stock and institutions be wrong? We’re about to find out. The latest round of drama for Hertz Global Holdings Inc concerns its newly re-launched shares, which can be bought and sold by individuals on the open market for about $17. But insiders who got their stakes as part of the auto rental company’s recent bankruptcy settlement can trade only with other professionals in private markets, at least for now. Those shares are fetching about $5 less, according to investors with access to trading data. The quirk is rooted in US securities law, which lets shares skip the usual registration rules if they’re given to bondholders an

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