Avis Sinks 70% in Two Days, Setting Off Cascade of Trading Halts

A torrid rally in shares of Avis Budget Group Inc. has suddenly reversed, causing the price to plummet 48% and triggering multiple trading halts on Thursday.

The decline deepened a selloff that’s wiped out nearly 70% of the car-rental company’s value in the past two days, marking an abrupt end to an advance that began late last month.