Billionaire Bill Ackman Thinks Hertz Stock Could Reach $30 by the End of the Decade. Here's Why It Could Happen Sooner Than That.
Certain personalities on Wall Street have the influence to create major moves in a stock with a simple comment or social media post. Billionaire hedge fund manager Bill Ackman is one of those people.A couple of weeks ago, Ackman posted on X (previously known as Twitter) that his investment firm, Pershing Square Capital Management, had started building a position in car rental provider Hertz Global Holdings (NASDAQ: HTZ). Prior to Ackman's announcement, Hertz stock was flat on the year. But in the wake of his social media post, the stock was up by roughly 71% year to date as of Monday morning. A meteoric rise like that might make you think you've missed your chance. But fear not! Ackman thinks Hertz shares could rise to $30 by 2029, which would be 380% higher than current levels. Here's why.Continue reading
Certain personalities on Wall Street have the influence to create major moves in a stock with a simple comment or social media post. Billionaire hedge fund manager Bill Ackman is one of those people.
A couple of weeks ago, Ackman posted on X (previously known as Twitter) that his investment firm, Pershing Square Capital Management, had started building a position in car rental provider Hertz Global Holdings (NASDAQ: HTZ). Prior to Ackman's announcement, Hertz stock was flat on the year. But in the wake of his social media post, the stock was up by roughly 71% year to date as of Monday morning.
A meteoric rise like that might make you think you've missed your chance. But fear not! Ackman thinks Hertz shares could rise to $30 by 2029, which would be 380% higher than current levels. Here's why.
