Hertz Shares Surge 30% on Earnings Beat, Sparking Short Squeeze Comparisons to GME

HTZ stock jumps 30% amid Q2 earnings beat and high short interest, drawing parallels to 2021 meme-stock rallies as retail investors target the low-priced equity.

Woofun AI reports that Hertz Global (HTZ) shares rose approximately 30% following the release of second-quarter earnings, which showed revenue of $2.396 billion and a net profit of $64 million, surpassing expectations. The rally was fueled by short covering, with MarketBeat data indicating 97.54 million short positions, or 31.2% of the float, as of July 15th. Retail investors on Reddit compared the move to the 2021 GME squeeze, though HTZ's short ratio remains lower than GME's historical peak of over 100%. The price action coincided with improved U.S. market sentiment, driven by weak employment data that lowered Federal Reserve rate hike expectations and pushed the S&P 500 to an all-time high.