Avis's option soared over 10000%, as its stock price jumped as much as 212%
$Avis Budget (CAR.US)$ soared to record highs on Tuesday, jumping as much as 212% as a short-squeeze took over the stock, while its option soared over 10000%!
I just missed a chance to turn $1000 bucks to $10,000.![]()
![]()
![]()
I just missed a chance to turn $1000 bucks to $10,000.
![Avis's option soared over 10000%, as its stock price jumped as much as 212%](https://ussnsimg.moomoo.com/5306212752118176831.png/bigmoo)
The car rental company has just over 20% of its shares shorted, according to data from Koyfin. With the stock at all-time-highs, that means every short position is underwater. And given Tuesday's market value gain of more than $25 billion, the shorts are already down billions of dollars.
Avis is a popular short with institutional investors that employ a pair-trading strategy, meaning while they're betting against the stock, they're also long shares of $HERTZ GLOBAL HOLDINGS INC (HTZGQ.US)$, a competing car rental company. Hertz only has a short interest of 0.5%.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Louou : Recently, there have been so many news about electric vehicles, is there a big return on long-term investment?