From 24/7 Wall St. · David Moadel · · 1m
Hertz Stock Rises 12% After $80M Oro Mobility Investment
Hertz stock jumps 12% as Oro Mobility secures $80m investment from private funds.
In brief
Hertz stock jumps 12% as Oro Mobility secures $80m investment from private funds. Hertz Global Holdings stock rose 12% to $2.06 after announcing a strategic equity investment in its Oro Mobility subsidiary for $80 million. Originally reported by 24/7 Wall St..
Hertz Stock Surges
Hertz stock rose 12% to $2.06 after announcing a strategic equity investment in its Oro Mobility subsidiary.
Oro Mobility Secures $80M Investment
Oro Mobility received $80 million strategic equity investment from Cohen Private Ventures and Certares Opportunities funds.
Ryder and Avis Shares Rise
Ryder stock gained 2% to $240.01 while Avis shares climbed 0.9% to $103.34.
Transportation Stocks Strengthen
The iShares Transportation Average ETF rose 2% to $80.57 as transportation stocks gained strength.
Hertz CEO Links Investment to Transformation
Hertz CEO Gil West tied the investment to the company's broader transformation strategy.
Oro Mobility's Next Challenge
Oro Mobility faces the next test of establishing autonomous vehicle partnerships with new capital.
The one thing
Hertz Global Holdings stock rose 12% to $2.06 after announcing a strategic equity investment in its Oro Mobility subsidiary for $80 million.
