Hertz Stock Plummets Amid EV Disaster

Hertz Stock in Freefall as Rental Giant’s Electric Vehicle Gamble Backfires!

Exclusive: Insiders reveal chaos, massive losses, and a CEO under fire as Hertz’s big EV bet turns into a financial nightmare.

Orlando, FL – Hertz (HTZ), the once-beloved car rental giant, is seeing its stock crash faster than a Tesla on autopilot—and insiders are pointing the finger at a disastrous electric vehicle gamble that has backfired spectacularly.

After emerging from bankruptcy in 2021, Hertz made headlines with a flashy plan to buy 100,000 Teslas, positioning itself as the eco-friendly rental king. But now, those EVs are dragging the company straight back into financial ruin.

'We Got Played!' – Hertz Insiders Fume

Sources inside Hertz reveal that the company is dumping 20,000 EVs at fire-sale prices, taking a $245 million hit in the process. Why? Because customers didn’t want them, repairs were double the cost of gas cars, and Tesla’s price cuts obliterated their resale value.

'It’s a bloodbath,' one Hertz executive whispered. 'We thought we were getting ahead of the curve, but instead, we got a fleet of depreciating metal that nobody wants to rent.'

Wall Street Flees as Stock Tanks

Hertz stock (HTZ) has been on a rollercoaster of misery, dropping over 50% in the past year as investors lose faith. The latest earnings report was a horror show:

Net losses ballooning to $348 million in Q4 2023

EV-related depreciation costs crushing profits

Rental demand weakening as business travel stalls

'This was supposed to be their comeback story,' said Wall Street analyst Rick Vanderslice. 'Instead, it’s turning into a cautionary tale about jumping on hype without a real plan.'

CEO Under Fire – Will Heads Roll?

Hertz CEO Stephen Scherr, a former Goldman Sachs exec brought in to steer the ship post-bankruptcy, is now facing furious investors demanding answers.

'Scherr bet the house on EVs, and now shareholders are paying the price,' a major investor fumed. 'If this doesn’t turn around soon, the board will have no choice but to make changes.'

What’s Next for Hertz?

With the EV dream in shambles, Hertz is now scrambling to refocus on gas-powered cars—just as rivals like Enterprise and Avis laugh all the way to the bank.

But can they recover? Or is Hertz doomed to become another corporate zombie, forever haunted by its failed Tesla romance?

One thing’s for sure: If the stock keeps dropping, Hertz may need another bankruptcy miracle—and this time, Elon Musk won’t be coming to the rescue.

Stay tuned for more updates as this financial wreck unfolds!

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