Was Jim Cramer Right About Hertz Global (HTZ) Stock?

Back in 2024, on May 14, a caller asked whether to sell or double down on Hertz Global Holdings, Inc. (NASDAQ:HTZ), expressing frustration with the company’s EV strategy and customer charging model at the time. Cramer took a middle-ground approach, saying:

“I don’t want you to sell and I don’t want you to double down. Just — let’s just see if it can’t go higher. I don’t like the fact that my friend Stephen Scherr left it. I do think that it’s probably too cheap right now. But if it got to $8 or $9, I would sell the stock.”

Cramer’s neutral stance didn’t pay off, as the stock declined 2.50% over the past year, briefly reaching its $8 target price only recently before dropping again.

Hertz Global Holdings, Inc. (NASDAQ:HTZ) is a global car rental company undergoing a transition toward electric vehicles and mobility services. Cramer discussed the stock again in April, after a caller asked him about his opinion on Bill Ackman’s stake. Cramer was cautious, saying:

“Okay, well, you know, I don’t know what Bill Ackman’s going to do because it’s, I don’t know him, and all I can tell you is that the stock’s had a very big run. It’s not a great company. I’ve seen great people befell by the stock. So I think you could take the money and run and be, or at least take out your cost basis. How about that? And let the rest ride. That would be the most prudent thing to do.”

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.

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Disclosure: None.