Avis Budget Group Inc CAR

This company operates a large car rental business. Aside from its eponymous brand, it also owns Zipcar and Budget Car Rental.

what the f*** happened to this to make it rip this much today?


Looks like a few hedge funds had build inadvisable short positions, they had to cover when Avis smashed expectations. A real life less spotted short squeeze in the wild.

The board also announced over $1bn of share buybacks (10% roughly on yesterdays close price)