‘The Jig Is Up’: 70% Crash Marks Quick End to Avis Short Squeeze
An Avis rental location near John F. Kennedy International Airport in New York.
Photographer: Jeenah Moon/BloombergThe speculative mania around Avis Budget Group Inc. erupted quickly. It collapsed even faster.
In just two days, with no clear cause, the car-rental company’s stock cratered so deeply that it wiped out all but a sliver of its 600% surge over the previous month.