HTZ is trading 22.8% down at $3.90 after announcing a $300 million exchangeable notes offering, a $100 million common stock offering, and a lowered Q2 forecast.

  • The stock is under pressure from dilution concerns following the combined capital raise, which triggered a sharp premarket selloff.
  • Hertz cited weaker used-vehicle pricing as a primary headwind, noting that the trend is pushing depreciation costs higher and weighing on its second-quarter outlook.