10 Firms Stealing Market Spotlight Amid Bloodbath

Page 9 of 9

1. Hertz Global Holdings, Inc. (NASDAQ:HTZ)

Hertz Global saw its share prices jump by 36.23 percent on Tuesday to close at $6.73 apiece following an impressive earnings performance in the third quarter of the year.

In an updated report, Hertz Global Holdings, Inc. (NASDAQ:HTZ) said it swung to a net income of $184 million from a $1.3 billion net loss in the same period last year.

Adjusted EBITDA stood at $43 million, reversing a loss of $208 million in the same comparable period, primarily driven by its disciplined operational execution and improved fleet economics.

Revenues, however, were down by 4 percent to $2.48 billion from $2.58 billion year-on-year.

“This quarter proves that we’re delivering on our commitments: driving strong results through focused execution and operational discipline,” said Hertz Global Holdings, Inc. (NASDAQ:HTZ) CEO Gil West.

“Throughout this transformation, we’re rebuilding our foundation while sharpening our skills and capabilities, creating a new platform for growth. Our progress is meaningful, our heads are down, but our eyes are on the horizon as we build a company that can thrive across the full spectrum of mobility,” he noted.

While we acknowledge the potential of HTZ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HTZ and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.

Page 9 of 9