Hertz Shares Jump 56% as Billionaire Investor Bill Ackman Discloses Stake
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Shares of Hertz rose more than 50% after hedge-fund manager Bill Ackman’s firm disclosed a significant stake in the rental-car company. Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. Hertz stock closed up 56.44% at $5.71 a share.
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