Hertz Says It Will Need a Miracle to Avoid Wipeout

Hertz announced a deal with Jefferies to sell up to $500 million in stock, despite the company's financial struggles. Shares had surged over 400% recently, driven by speculative investors. Cameron Crise from Bloomberg criticized the regulatory environment allowing such sales, highlighting the risks to unsophisticated investors. He noted that Hertz's debt remains deeply discounted, and shareholders are unlikely to benefit in bankruptcy proceedings. The discussion also touched on the broader trend of bankrupt companies issuing shares, reflecting irrational market behavior.

What was the amount of stock Hertz announced it would sell?

What percentage did Hertz shares gain from their low on May 26?

What does the speaker imply about the regulatory environment regarding Hertz's ability to issue shares?

What concerns were raised about the investors buying Hertz stock?

How does the speaker characterize the behavior of investors in relation to bankrupt companies?